Total perpetual DEX trading volume across major networks surged past $67 billion on Wednesday, marking a second consecutive daily record.
Among the leading protocols, Aster, built on BNB Chain, registered a daily volume exceeding $35 billion, half of the entire perpetual DEX market.
Other rival DEXs, zkLighter (on Arbitrum) and Hyperliquid (on its own Layer-1 blockchain), posted over $10 billion in daily volume. Platforms such as EdgeX and Paradex also cleared the $1 billion threshold.
Aster’s Explosive Growth
Notably, Aster is the latest breakout story in the crypto scene. CoinGlass data shows the token’s open interest soared from $3.72 million on Friday to $1.3 billion as of today, a 34,841% increase in a week.
At the same time, DefiLlama reported Aster’s total value locked (TVL) jumping from $625 million to $2.15 billion, a 244% gain over the same period.
DefiLlama recorded $24.7 billion in 24-hour perpetual trading volume for Aster on Wednesday, outpacing Hyperliquid’s roughly $10 billion. EdgeX and zkLighter followed with about $8.25 billion and $6.18 billion, respectively.
As of today, Aster’s 24-hour perpetual trading volume has exceeded $35.8 billion. However, Hyperliquid remains the long-term leader with $66 billion in seven-day volume and close to $300 billion over 30 days.
The massive growth in Aster’s trading volume closely followed an extraordinary price surge after the token’s debut.
For context, it launched just last week at $0.02 but has since soared by 12,065%, reaching an all-time high of $2.43. The price action coincided with massive accumulation by whales.
The Main Driver of the Moonshot
Aster’s rapid growth has been fueled by strong backing. Specifically, BNB Chain confirmed that the project received support from YZi Labs (formerly Binance Labs), including mentorship and ecosystem exposure.
In parallel, CoinMarketCap’s CMC Launch program boosted Aster’s visibility. It generated 400 million homepage banner views, over 3 million tweet views, 1.5 million live event views, and hundreds of thousands of clicks to Aster’s project page.
CMC Launch lead Jin Choo clarified that Aster was chosen purely on merit, citing innovation, market potential, and community traction. He stressed that Binance and CoinMarketCap operate independently, and that Binance had no influence over the project’s inclusion.
Market Perspective
Industry watchers see Aster’s launch as a sign of how the perpetual DEX market is evolving. Faraday Future founder YT Jia noted that Aster delivers a CEX-like experience, offering features like hidden orders to prevent MEV, bridgeless multi-chain support, and high leverage.
The launch of Aster is a market-shaking event. ~$500B in volume, >$1B TVL, and briefly capturing nearly 50% of the perp DEX market is a testament to getting the formula right. A quick analysis of why it's working:
1/ Trust & Product: Top-tier backing (led by former Binance Labs…
— YT Jia 贾跃亭 (@YTJiaFF) September 25, 2025
At the same time, it follows a community-first token model, with over 50% of tokens going to users.
Jia said that success in the DEX space now depends more on user experience and real community incentives than on decentralization alone.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
