Binance-Backed Aster Soars 15% as Perp DEX Volume Explodes Past $11 Billion

Aster rockets upward as perpetual decentralized exchange activity hits staggering new heights.

The Volume Surge

Trading volume smashed through the $11 billion barrier—defying traditional market expectations and leaving centralized exchanges scrambling to keep pace.

Market Momentum

Binance's backing continues to fuel Aster's trajectory, demonstrating how major exchange support can catapult projects into the stratosphere while legacy finance institutions still debate blockchain basics.

Decentralized derivatives platforms aren't just gaining ground—they're rewriting the rulebook while Wall Street analysts scratch their heads over 'digital asset volatility.'

Aster DEX volume tops $11 billion

Aster perp DEX volume has surged, exceeding $11 billion within a few days of launching, underscoring growing adoption. According to the exchange’s official website, the cumulative trading volume currently stands at $544 billion, with over 524,000 users.

The protocol’s self-reported Open Interest (OI) stands at $255 million, with the Decentralized Finance (DeFi) trading Total Value Locked (TVL) averaging $776 million at the time of writing. 

According to DefiLlama, the TVL, which refers to the total value of all coins locked in smart contracts on the protocol, has reached $1.6 billion. The chart below reflects the growing demand for Aster’s staking, considering the TVL averaged $347 million as of September 1.

Aster DeFi TVL | Source: DefiLlama 

Technical outlook: Can Aster sustain its rally?

Aster hovers slightly below the $2.00 mark at the time of writing on Tuesday. As short-term support, established at around $1.90, backs the token’s bullish outlook. 

With key technical indicators on the 2-hour chart upholding the bullish sentiment, Aster could extend the uptrend above $2.00. For instance, the Moving Average Convergence Divergence (MACD) has been displaying a sell signal triggered earlier in the day. If investors heed the signal and increase their exposure, Aster WOULD likely nurture the uptrend above the $2.00 level.

ASTER/USDT daily chart 

The Relative Strength Index (RSI), which has risen to 68, indicates that bullish momentum is building. Still, higher RSI readings above 70 would signal extremely overheated conditions and may result in a sudden correction if investors start booking profits. 

Key areas of interest for traders are the record high of $2.14 and the initial support at $1.90. Price action on either side of this range could shape Aster’s short-term technical outlook.

Open Interest, funding rate FAQs

How does Open Interest affect cryptocurrency prices?

Higher Open Interest is associated with higher liquidity and new capital inflow to the market. This is considered the equivalent of increase in efficiency and the ongoing trend continues. When Open Interest decreases, it is considered a sign of liquidation in the market, investors are leaving and the overall demand for an asset is on a decline, fueling a bearish sentiment among investors.

How does Funding rates affect cryptocurrency prices?

Funding fees bridge the difference between spot prices and prices of futures contracts of an asset by increasing liquidation risks faced by traders. A consistently high and positive funding rate implies there is a bullish sentiment among market participants and there is an expectation of a price hike. A consistently negative funding rate for an asset implies a bearish sentiment, indicating that traders expect the cryptocurrency’s price to fall and a bearish trend reversal is likely to occur.