Aster's daily revenue surpasses 7 million USD, surpassing Hyperliquid to become the new DEX leader.

Aster platform reaches a new milestone! According to the latest data from Defillama, Aster's single-day protocol revenue on September 24 reached an astonishing $7.04 million, not only setting a historical high for the platform but also surpassing its competitor Hyperliquid ($2.79 million), jumping to third place in the crypto market revenue ranking, only behind stablecoin giants Tether ($21.99 million) and Circle ($7.72 million). This achievement marks the official entry of the decentralized perpetual futures exchange (Perp DEX) track into a heated competition stage.

Aster Rises: The 30-Day Myth from Zero to Revenue Champion

The success of Aster is no coincidence. Since the token was launched in September 2025, the price of ASTER has skyrocketed by 400% in a short period, quickly becoming the focus of the market. What is even more remarkable is that the key figure driving this surge is the founder of CEX. With Hyperliquid having become the “on-chain CEX” and monopolizing a large portion of the decentralized derivatives trading market, CZ personally endorsing Aster has not only released a strong market signal but also unveiled the beginning of a battle among industry giants.

From the income data, Aster's growth rate has shocked the market. Within just one month of launch, its daily revenue has already surpassed the long-established Hyperliquid, reaching an astonishing level of 7.04 million USD. This means that on an annualized basis, Aster is expected to generate over 2.5 billion USD in protocol revenue, a figure that even exceeds many traditional financial institutions.

Perp DEX: The Main Theme of the Crypto Market in 2025

Analysts generally believe that the rise of Aster is not just a success story of a single project, but a reflection of the entire Perp DEX (Decentralized Perpetual Futures Exchange) sector's explosion. Looking back at the past few crypto market cycles, each wave of enthusiasm has been backed by a new sector and leading platform:

2017 ICO Craze: Rise of Centralized Exchanges (CEX)

2021 DeFi Summer: Uniswap + stablecoin/lending protocol

2022 NFT Summit: OpenSea

2023 Year of the Inscription Craze: UniSat

2024 Meme + Pump platform

2025: RWA and Perp DEX Dual Main Line

The core highlight of 2025 is undoubtedly the decentralized Perptual Futures trading. Hyperliquid was the first to launch the “trading volume - transaction fees - token buybacks” closed-loop model, successfully validating that Perp DEX can not only survive but also break the monopoly of CEX. The emergence of Aster represents the re-entry of major capital and traffic, marking that this track has entered a heated competition among various players.

Aster vs Hyperliquid: The Battle of Technological Innovation and Business Models

The success of Hyperliquid provides a clear development path for the market: on the technical level, a self-developed high-performance L1, order book + sub-second matching, approaching the experience of centralized exchanges; on the operational level, airdrops + Build Codes distribution model, quickly establishing an ecosystem; value flywheel, trading volume growth, accumulation of transaction fees, stock buybacks, token appreciation, and attracting liquidity again. This flywheel allows Hyperliquid to break through the trillion-level trading volume in 2025, firmly occupying the leading position in the Perptual Futures DEX.

However, Aster is not simply replicating the model of Hyperliquid, but rather leveraging the resources of the CEX ecosystem to launch a series of innovative features:

Cross-chain unified liquidity: Integrating the order books of Ethereum, Solana, and Arbitrum, users do not need to cross-chain by themselves.

Hidden Order Mechanism: Similar to traditional finance's dark pool trading, effectively preventing front-running and liquidation manipulation, enhancing institutional friendliness.

Multi-asset support: Not only does it provide cryptocurrency trading, but it also supports US stock perpetual futures, and even launches the “degen mode” with 1000x leverage.

CEX's strong endorsement: Whether it's traffic or capital support, this advantage has allowed Aster to shine with a leading role from day one.

These innovations have made Aster no longer just a “little brother imitating Hyperliquid”, but rather attempting to directly confront and become a “CEX-like DEX”—combining the user experience of centralized exchanges with the security and transparency of decentralization.

The Business Logic Behind a Daily Income of 7.04 Million Dollars

Aster can achieve a daily revenue of 7.04 million dollars in a short period of time, backed by a clear business logic:

High trading volume: The platform's daily trading volume has exceeded 1 billion dollars.

Reasonable fee structure: Aster adopts a dynamic fee model that adjusts fees based on market volatility.

Diversified sources of income: In addition to trading fees, it also includes clearing fees, funding rates, etc.

Strong user growth: The number of active addresses is increasing exponentially.

Institutional funds inflow: More and more professional trading teams are choosing Aster as their primary trading platform.

These factors collectively drove the explosive growth of Aster's revenue and provided solid support for the value of its tokens.

How can investors seize opportunities in the Perpetual Futures DEX track?

In the face of the explosive growth of the Perp DEX track, how should investors develop strategies? Analysts suggest considering from three time dimensions:

Short-term: Seize the FOMO opportunity

New star projects like Aster often experience short-term explosions against the backdrop of just launching their tokens, support from giants, and ample market funding. During this phase, participating in airdrops, early mining, or points activities may be a window for retail investors to “take low risks for high returns.”

Mid-term: Pay attention to whether the operational flywheel is running smoothly

The key to determining whether a Perp DEX can continue to develop is:

Can the real trading volume and market depth be maintained?

Can token economics create a positive cycle of trading volume, transaction fees, and treasury stock destruction?

Can the team iterate quickly to solve performance and compliance challenges?

Long-term: Seek the 'real leader' rather than the 'quick copycat'

History has proven: what survived the ICO frenzy is what survived the NFT craze, which is OpenSea. The vast majority of followers will eventually fall silent. If Aster cannot develop its own independent core advantages, even with CZ's endorsement, it may just be a fleeting spark in the market.

Smarter investment strategies include:

· Track the leaders and observe the imitators: After the leading projects have established a working model, new entrants often bring a second opportunity to the market.

· Pay attention to the narrative cycle: once the “freshness” fades, be wary of the bubble bursting.

· Participate in infrastructure bonuses: wallets, aggregators, and quantitative tools often ride the wind of the entire track.

Aster's single-day revenue has surpassed the milestone of 7 million USD, which not only proves the commercial viability of the Perptual Futures DEX model but also indicates that Decentralization finance is developing at a deeper level. Regardless of whether Aster or Hyperliquid emerges victorious in the end, this competition will drive the entire industry forward, bringing better products and services to users.