What Is Aster? The Decentralized Exchange on BNB Chain That’s Taking on Hyperliquid

Distributed Exchange Aster has attracted traders’ attention thanks to eye-catching 1,001x leverage options, support from Binance co-founder Changpeng “CZ” Zhao, and rising tokens.

Because of its focus on permanent futures trading, Aster is considered a high-lipid rival. This is one of the most successful crypto projects of the year. During the first week, Turning high lipids over daily profits However, they remained behind in terms of trading volume.

According to that explosive start CoingeckoAster Token has skyrocketed to a market capitalization of $3.2 billion, the 50th largest cryptocurrency by market capitalization.

So, what exactly is an Aster? What is a lasting future? How do asters match high lipids? And what’s next? Check out the popular BNB Chain Exchange.

What is Aster?

Aster is a distributed exchange that supports multiple chains such as Solana, Ethereum, Arbitrum, and more, but is the most closely tied BNB Chain. It specializes in permanent futures trading, but also offers spot trading. The project is backed up YZI LabChangpeng “CZ” Zhao, who co-founded Binance.

Permanent futures allow traders to infer the price of cryptocurrency without owning the underlying assets. Bitcoin, Ethereumor other available tokens. Traditional futures Not in a constant future, but it needs to have an expiration date. That said, traders should choose whether to shorten the selected assets (meaning that the price will fall) or to lengthen them (the price will rise).

In addition to this, the lasting future is closely tied to highly utilized transactions. Maximum leverage It’s set to a whopping 1,001x.

Aster’s popularity exploded in September 2025, and his token debuted 2,000% surge Market capitalization of $3.8 billion over the first seven days. At the time of writing, it has settled at a market capitalization of over $3 billion, making it the 50th largest cryptocurrency by market capitalization.

Aster vs. Hyper Liquid

With its success, Aster is naturally compared to lipids. It has established itself as a major decentralized exchange dedicated to a lasting future.

At the time of writing, Aster’s weekly trading volume was $3.32 billion in late September 2025, falling behind high lipids to $53.9 billion. That being said Defilamasince its launch, it has outperformed rival exchanges with daily revenue on multiple days.

So, what’s the difference? First, Aster works natively on four networks, reducing the friction for traders to start, while Hyperliquid has its own blockchain exchange. That said, Aster aims to ultimately launch its own Layer-1 network.

Another major difference is that Aster appears to be focused on privacy, and the launch of hidden orders allows for private transactions. In contrast, the very transparent model of Hyperliquid was part of its strength as it caught the headline because the whales were placed A spectacular bet.

But CZ said Ragradio’s Farov Salmad–DecryptionSister Company – In a video interview in May, Hyperliquid’s transparent model may not be ideal for large-scale transactions.

“Current models where everything is completely transparent may or may not be the best,” said the Binance co-founder. “Yeah, you can see a $300 million short in the Big Whale location. But if you really want to do a $300 million short, you don’t want you to see it.”

In addition to this, Aster’s maximum leverage is 1,001 times dizzy, while high lipids are top at 40 times. To put that in mind, the most central exchange is the best Binance The offer is 20 times more and you will need to pass certain requirements to do so.

Aster’s future

Aster is off to a hot start, but he has big plans to continue building.

Movement to a dedicated Layer-1 network is the most important change in distributed exchanges, and a prominent move from the BNB chain co-founded by CZ.

The exact details of this movement are still quite wrapped, Official Astor Documents It simply says, “It’s coming soon.” The Aster chain is currently in the internal testing phase, said Leonard, CEO of Exchange. Cointelegraph. Leonard said it was designed to “preserve trade privacy.”

However, what users are most likely to be excited about is the possibility of Aster Airdrop.

After the token generation event, some of the token supply repeated AirDroped to those who participated in previous Airdrop campaigns. On October 17th, the Airdrop Claim Period will end and unclaimed tokens will return to the Community Rewards Pool. 53.5% of total supply.

Therefore, users expect another round of airdrops to occur after the October billing period ends. And some traders do Already trying to farm it.

Whether you’re farming Airdrop, eagerly anticipating a new Layer-1 network, or trading with insane leverage, Aster has plenty of stores for its users. However, it remains to be seen whether it ultimately has the same type of long-term effects as high lipids.