Aster Challenges Hyperliquid with strong Debut
Aster made its debut on September 17, backed by CZ-linked YZi Labs and PancakeSwap. It aims to challenge Hyperliquid’s dominance in the decentralized derivatives market.
Aster’s native token,ASTER,saw a massive surge,rising from $0.08 to $1 within 24 hours. The platform locked over $1.85 billion in value, showing strong demand. This launch drew attention due to its ties to Changpeng Zhao, the former Binance CEO, who continues to support the project thru YZi Labs.
Hyperliquid remains the benchmark, handling up to 25% of Binance’s perpetuals flow.It boasts $330 billion in monthly turnover and rapid execution speeds.
CZ praised Aster’s launch as “well done,” fueling speculation about his role in countering Hyperliquid’s dominance.Many see this as an attempt to channel liquidity toward an exchange connected to Binance’s ecosystem.
Hyperliquid’s growth is tied to its performance. It offers zero-gas trades, clear order books, and fast execution times. These features have attracted high-volume traders seeking security and unrestricted access.
Though, Aster is adopting a different approach. It launched “Hidden orders” to shield large trades from front-running, addressing concerns about Hyperliquid’s transparency. This move aligns with CZ’s critique of Hyperliquid’s model.
Speculation around CZ’s intentions has intensified. Traders interpret his promotion of Aster as a calculated move to reclaim market share. Some even see it as a “big bet” to shape the next derivatives cycle.
whether Aster can slow Hyperliquid’s growth or strengthen it will depend on how traders judge liquidity and market architecture. The competition is set to reshape the decentralized derivatives landscape.
