No full-blown alt season and yet this token rallied 1183% in the last 10 months. I am talking about $HYPE, the Hyperliquid token that came along and took the spotlight. And that touches a sore spot for the biggest exchange in the world. It was losing some of its market share. So, it also wanted a piece of the perps DEX market.
I’m talking of course about Binance. It recently launched Asterdex, a direct competitor to Hyperliquid. With full backing by CZ. The $ASTER token price went through the roof. Hence, time to look into what Aster ($ASTER) is all about.
What is Asterdex ($ASTER)
Asterdex ($ASTER) is a next-generation DEX. It offers both perps and spot trading as a multichain platform. Currently, it offers the BNB chain, Ethereum, Arbitrum, and Solana. It was launched in 2024 as a merger between two platforms.
- Astherus. We know Astherus for its yield-focused products. For instance, the liquid-staked $BNB token ($asBNB) and the yield-bearing stablecoin $USDF.
- APX Finance. This was a robust, decentralized perpetual trading platform with advanced features. APX Finance also had its own $APX token. This token rebranded to $ASTER.
However, on September 17th, the $ASTER token launched. This changed the whole game. CZ backed Asterdex with a post on X. He mentioned; “Well done! Good start. Keep building!” This, together with the screenshot of Aster, as pictured below. The DEX and the token went parabolic after that. For example, Aster Pro hit over $3 billion in perp trading volume during the past 24 hours. In the Pro mode, Asterdex offers advanced trading tools. However, more on all this later.
Source: X
The core product of Asterdex is perp trading. Well, perp trading is actually perpetual futures trading. With perp trading, you speculate on the future price movements of an asset. In this case, crypto assets. However, you don’t own the underlying asset. In other words, you trade in derivative contracts. They are perpetual because they don’t have an expiry date. As a trader, you can hold positions indefinitely as long as you maintain the required margin. Perp trading tends to typically include leverage.
There’s no exact information known about the team. However, the founders come from the Astherus and APX Finance teams. It’s backed by YZi Labs which used to be Binance Labs. That’s part of the CZ connection…..So, let’s see how Asterdex works.
How Does Asterdex ($ASTER) Work?
Asterdex is a perp dex. I already explained a moment ago what a perp dex is. It also offers spot trading. It’s multichain, and as I already pointed out, currently it supports 4 chains. These are the BNB chain, Ethereum, Arbitrum, and Solana.
Although the DEX has been around since last year, there were some issues when $ASTER launched. These were mostly on the Solana chain, with withdrawals and deposits. However, according to the team, deposit/withdrawals on Solana spot are still disabled. Instead, use the Perp wallet for deposit/withdrawals.
Source: Aster Discord
To start trading on Asterdex, you need to deposit funds on the DEX. You can do this on the four mentioned chains. However, note that email deposits currently only work for $USDT on Arbitrum.
Asterdex offers two perp modes, and they’re both free to use.
Simple Mode
Simple mode operates on an Automated Market Maker (AMM) system. It uses the Aster Liquidity Pool (ALP). You can trade against the pool and use up to 1001x leverage. It uses a simple one-click execution without needing a deposit. However, as a general warning. Be careful when trading with leverage. It can give you higher returns, however, it can also multiply your losses.
Pro Mode
This is an advanced mode that uses an on-chain CLOB or Central Limit Order Book. Most global exchanges use such a CLOB, including Hyperliquid. This Mode also offers a ‘Hidden Order‘ option. See the picture below. This means that Asterdex’s hidden orders remain completely invisible until they are filled. The concept of hidden orders is not new. However, it is unique that this is now used on a perp dex. Trading on Aster Pro also earns you $ASTER.
Source: X
Furthermore, it offers, among others, grid trading. Pro Mode also offers highly competitive maker and taker fees. Respectively, 0.01% and 0.035%.
$ASTER Tokenomics and Current Price
The current $ASTER price is $1.61. Yesterday, it saw its current ATH at $1.96. However, it saw a 35% price drop, to $1.27, after it hit that ATH. Look at this chart below, it’s a parabolic rise. 1500% in only 1 week. See the picture below.
Source: Aster DEX
So, no wonder that people took profit. There were also lots of short liquidations at $2, so this also looks like a short squeeze. We called $ASTER on Friday’s news video. The $ASTER price was still at 72 cents. So, a good 2x from where we are now. The token launch also went together with an airdrop for early users.
The current market cap is $2.7 billion. If $ASTER gets to $HYPE’s market cap, its price will be around $9.30. That’s almost a 6x from here. As CZ said, “Dips are important for establishing support levels, which are like foundations of a house”. This is a perfect dip in the $ASTER price and a great entry point.
If $ASTER to $HYPE MCAP price is $9 but expectation $10 easy pic.twitter.com/DmRmPMCxfL
— Vespamatic – SMI 🇮🇩 (@vespamatic96) September 20, 2025
There are 8 billion $ASTER, and currently 1.65 billion circulate. Vesting starts next month, with monthly unlocks. However, in the current upwards trend for $ASTER, I can see that these unlocks may only make a small dent in the price. If any at all. However, unlocks continue until August 2032.
Aster also has its own stablecoin, $USDF. It’s a fully collateralized, yield-bearing stablecoin convertible 1:1 with USDT. It’s designed to earn passive yield.
So, here you have it, Binance’s answer to Hyperliquid. It has an impactful start with lots of potential. What is your take on the Aster DEX and is $ASTER token? Let me know in the comments. Make sure to follow us on X and Discord and join in our discussions.
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The post HOTTEST Altcoin – Is Aster The Next Hyperliquid? HYPE! appeared first on Altcoin Buzz.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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