Aster Skyrockets to #2 in Global Fee Rankings - Only Tether Beats This Crypto Powerhouse

Aster just flipped the entire crypto fee landscape upside down.

The Fee Revolution Nobody Saw Coming

While traditional finance keeps playing with yesterday's toys, Aster's blockchain technology is quietly eating everyone's lunch. The protocol now stands as the second-largest fee generator globally - a position that would make most legacy financial institutions blush.

Climbing the Ranks Against All Odds

Tether still holds the top spot, but Aster's relentless ascent proves that utility tokens can compete with stablecoin giants. The market's voting with its wallets - and the results are speaking for themselves.

Another day, another reminder that while Wall Street debates quarterly earnings, crypto protocols are actually building the future of finance. Maybe traditional banks should try innovating instead of just collecting fees for moving money between the same old accounts.

Aster surpasses Hyperliquid in DEX volume

Data from DeFiLlama shows that Aster saw $206.92 million in DEX volume in the last 24 hours, and $3.321 billion in the last 7 days. The decentralized exchange currently ranks 11th highest protocol globally in DEX volume, coming under its rival Hyperliquid at position 5. Hyperliquid saw $639.83 million in DEX volume in the last 24 hours, and $5.394 billion in the last 7 days.

The DEX has drawn the attention of traders due to its focus on perpetual futures trading and thanks to its 1,001x max leverage options. The decentralized exchange flipped Hyperliquid in daily revenue during its first week, but remained behind in terms of trading volume.

At the time of publication, Aster’s perpetual trading volume hit $62.486 billion in the last 24 hours. The DEX also saw $908.253 billion in perpetual trading volume in the last 30 days, with a 184.81% weekly change in perp volume.

Aster has surpassed its rival Hyperliquid to become the leading decentralized exchange specializing in perpetual futures. Hyperliquid has its own blockchain powering the exchange, and its transparent model has also caught headlines due to whales placing big bets. Hyperliquid’s maximum leverage also tops out at 40x.

“The current model, where everything is fully transparent, may or may not be the best model. Yeah, you can see a big whale placed at $300 million short. But the guy who really wants to do a $300 million short doesn’t want you to see it.”

–Changpeng Zhao, CEO of Binance.

The emerging DEX on the Binance Smart Chain has also been soaring lately, with its token jumping 4% in the last 24 hours to $1.96. At the time of publication, Aster has surged by 1,903.8% since its launch this September. Prediction market Myriad believes there’s a 45% chance Aster continues soaring and hits $4 by the end of October.

The token soared by 2,000% in the first seven days of its debut, reaching a $3.8 billion market capitalization. At the time of publication, it’s market cap increased by nearly 3% to $3.18 billion, which made it the 38th largest digital asset by market capitalization.

Changpeng Zhao supports Aster

CZ popped into an X space over the weekend to explain that his links to Aster were strictly advisory and nothing more. He revealed that he only advises on product and tech and doesn’t advise the exchange on regulatory issues. 

He also clarified that Aster’s team has Binance ties through former employees, maintaining that the team has stayed pretty close to the BNB chain ecosystem. Binance’s founder also called Aster a very strong project, adding that the team’s familiar bond with the BNB ecosystem ends up giving his beloved token an indirect boost.

Aster is also planning to MOVE away from BNB Chain to a dedicated layer-1 network, with its plans still fairly under wraps.  Official docs revealed that the initiative is coming soon, but don’t specify when. 

The exchange’s CEO, Leonard, revealed that Aster Chain is in an internal testing phase and is being designed to preserve trade privacy. Aster’s airdrop, which launched during its token generation event, is set to close on October 17. The exchange said any unclaimed tokens will go back to the community rewards pool, which accounts for 53.5% of Ater’s total supply.

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