HYPE vs ASTER: Divergent Strategies in the DeFi Perp DEX Race
Hyperliquid [HYPE] and Aster [ASTER] are charting distinct paths in the decentralized perpetual exchange arena. HYPE's $4 billion TVL and $310 billion 30-day volume reflect its dominance in DEEP liquidity and institutional-grade trading—a stark contrast to ASTER's $15 billion 24-hour volume surge, fueled by retail leverage seekers.
The 4x TVL advantage positions HYPE as the liquidity backbone, while ASTER's speculative frenzy reveals a risk-on appetite among traders. This bifurcation mirrors broader market trends: sustainable infrastructure versus high-stakes gambling.