Big news in the DeFi world: Aster, the perpetuals trading platform, just topped $25 million in daily fees, beating competitors like Hyperliquid, which recorded $3.17 million in the same 24-hour window.
According to DefiLlama, Aster posted $199.96 million in spot trading volume, placing it 13th in volume rankings. Hyperliquid still leads in sheer volume at $477.3 million, but Aster’s fee generation dominates, signaling highly active traders and potentially unique fee structures attracting serious market participants.
Momentum for Aster has been strong since its token launch on Sept. 17, boosted further by a public endorsement from crypto heavyweight Changpeng Zhao. The platform also revealed that YZi Labs, formerly Binance Labs, holds a minority stake.
Aster, formerly APX Finance, rebranded after merging with Astherus in March and emphasizes multi-chain support. Its standout feature? “Hidden orders”, completely invisible limit orders that give traders enhanced privacy and strategic flexibility compared to typical transparent order books.
Beyond hidden orders, Aster offers high leverage, multi-chain capabilities, and a trading environment designed for sophisticated traders who value both transparency and discretion.
The platform’s native token, ASTER, currently trades at $1.89, down 1.76%, with a fully diluted valuation of $15.1 billion, up massively from its initial $560 million at launch. This spike underscores market confidence following recent endorsements and platform traction.
The takeaway:
while Hyperliquid leads in volume, Aster’s fee generation dominance shows it’s capturing serious trading activity, proving that in DeFi, it’s not just about volume—it’s about where the money moves.
