BNB Chain’s rising star Aster is rapidly reshaping the decentralized exchange (DEX) landscape, rattling even the strongest competitors.
The platform’s native token, ASTER, has stunned the market with a 2,200% surge in just one week, while rival Hyperliquid’s HYPE token has slipped 25% in the same period.
One of the loudest voices backing Aster is trader James Wynn, infamous for a $100 million wipeout earlier this year on Hyperliquid. Still, Wynn has flipped his stance, calling Aster “the future of trading” and warning that Hyperliquid faces a “slow and painful death.” His shift is gaining traction among traders who have watched Aster eclipse long-established rivals almost overnight.
Behind the hype, the numbers are staggering. Aster processed $24 billion in perpetual trading volume over 24 hours – more than double Hyperliquid’s activity – while raking in $10 million in daily revenue. According to DeFiLlama, that figure briefly even topped Circle, underscoring how quickly the newcomer is climbing the ranks of global crypto projects.
Part of Aster’s appeal lies in its design. Built to protect traders from the same MEV attacks that burned Wynn on Hyperliquid, the exchange offers hidden orders and MEV-free execution, shielding positions from being exposed on-chain. This “dark pool”-style feature has resonated with whales, who in recent days withdrew more than $400 million worth of ASTER from exchanges, signaling growing confidence in the token’s long-term value.
Adding fuel to the narrative, Binance founder Changpeng Zhao has openly supported the project, describing it as a step toward fairer, more secure trading. Market watchers see this backing as a key factor in Aster’s breakneck momentum, with some suggesting CZ aims to position the platform as a flagship within the BNB Chain ecosystem.
Hyperliquid, meanwhile, is scrambling to respond. Its recent launch of the USDH stablecoin is viewed as an attempt to shore up activity and regain market share, but so far the effort has done little to offset Aster’s aggressive advance.
Whether Wynn’s prediction of Hyperliquid’s demise proves correct remains to be seen, but one thing is clear: Aster has forced its way into the spotlight, and the competition is now playing catch-up.
