ASTER token, the native asset of the Aster decentralized exchange, has skyrocketed, jumping 47% in a single day to set a new all-time high of $2.12. This surge is driven by Aster generating $4.58 million in daily revenue, surpassing its rival Hyperliquid, which reported $2.82 million, according to DefiLlama data. However, Hyperliquid maintains a lead in daily trading volume at $783.52 million compared to Aster's $558.95 million.
Predictors on the Myriad prediction market, developed by Decrypt's parent company Dastan, estimate a 45% chance that ASTER will hit $4 by the end of October, nearly doubling its current price. The competition intensified when Aster allowed users to short HYPE with up to 300x leverage, a retaliatory move after Hyperliquid listed ASTER with only 3x leverage. Aster is backed by Binance founder Changpeng 'CZ' Zhao's investment firm YZi Labs, adding credibility.
Hyperliquid's HYPE token, with a market cap of $12.6 billion, has declined over 3% on the day and 13% this week, while Aster's market cap is nearly $3.5 billion. Myriad predictors now see a 61% likelihood HYPE will reach $39 before $69, up from 31% just days ago, reflecting shifting sentiment.
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