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Aster Perp Dex’s Token Surges Over 300% Within Hours Of Its Launch
GameFi Guides

Aster Perp DEX’s Token Surges Over 300% within Hours of Launch

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Aster, a YZi Labs (formerly Binance Labs) backed decentralized perpetual exchange, unveiled its native token ASTER on Wednesday. It surged over 300% from its initial price within hours of its launch.

Aster, launched in July on Binance’s BNB Chain, enables traders to speculate on cryptocurrency prices with leverage. Beside YZi Labs, a top decentralized exchange (DEX) on BNB Chain, Pancakeswap also provided significant backing to Aster.   

Prior to the token launch, the platform was running the Aster Genesis program to support the growth and trading activity on its DEX. Based on this, it initiated the token airdrop and rewarded contributors with a total of 704 million ASTER tokens. 

The timing of the launch could not be better as Hyperliquid, the leading perpetual DEX, is making waves, with its native token HYPE hitting a new all-time high the same day. 

At the time of publishing, ASTER token was trading $0.3981 with a market cap of $659.25 million and a 24 hour trading volume of $330 million, as per CoinMarketCap data. 

CZ sparks a cold-war

Celebrating the token launch, Changpeng Zhao, Co-Founder of Binance, cherished the Aster team by sharing a post on his X handle. “Well done! Good start. Keep building!,” he said while sparking chatter around the fact that he is only supporting Aster, via YZi Labs investment, to give indirect competition to Hyperliquid. 

“He’s obviously pissed about hyperliquid and plays to win,” said an X user Tulip King noting that he also recently removed “ex-Binance” from his bio and made it “Binance” and now “he’s back in charge.” 

Notably, Hyperliquid has generated billions in trading volume and it is giving tough competition to leading centralized exchanges (CEX) like Binance and Coinbase. Its decentralized nature—not requiring KYC and open for all—as well as CEX-like trade execution is making it increasingly popular among crypto traders. 

Increasing competition to Hyperliquid

Being a top perpetual DEX, Hyperliquid is currently facing huge challenges from various emerging competitors. One of the close competitors was Lighter, which recently gained popularity after its points trading went viral. Now, Aster, with backing from the “Binance Cartel” is taking over the crypto community, rising toughly against Hyperliquid’s dominance in the decentralized perpetuals ecosystem. 

Also Read: Wormhole Unveils W 2.0 Tokenomics With Yield and Bi-Weekly Unlocks



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Avalanche activity driven by DEXs, trading bots, whale memecoin speculation
NFT Gaming

Avalanche activity driven by DEXs, trading bots, whale memecoin speculation

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Smart contract blockchain Avalanche recorded a consistent surge in blockchain activity, as analysts pointed to growing decentralized trading activities and returning crypto whale speculation on the next emerging memecoin.

Avalanche’s transaction growth surpassed all other blockchains the past week, rising 66% to 11.9 million transactions across more than 181,000 active addresses, signaling growing investor mindshare focusing on the blockchain.

The milestone occurred after a “landmark effort” of the US Department of Commerce, which adopted Avalanche, along with nine other public decentralized blockchains, to publish its real gross domestic product (GDP), Cointelegraph reported on Friday.

Despite Avalanche’s growing institutional and governmental adoption, we “cannot at this point attribute this to the US Government adopting Avalanche for its GDP data,” said Nicolai Sondergaard, research analyst at the Nansen crypto intelligence platform.

The network’s increasing blockchain activity was mainly driven by decentralized finance (DeFi) traders, miner extractable value (MEV) trading bots and whales speculating on the next big memecoin launch, the analyst told Cointelegraph, adding:

“The transaction surge is driven by: 60% DeFi protocol activity (Trader Joe, Aave, Benqi), 25% Automated trading bots and MEV, and 10% Whale trading and memecoin speculation […].”

The research analyst explained that the additional 5% of blockchain activity was attributed to blockchain gaming and non-fungible tokens (NFTs).

Avalanche, top 5 entities by blockchain users, 180 days. Source: Nansen

Related: Avalanche, Toyota Blockchain designing autonomous robotaxi infrastructure

DEX trading, “high-balance” whales drove the majority of Avalanche blockchain activity: Nansen

Cryptocurrency trading on decentralized exchanges drove the lion’s share of Avalanche’s blockchain activity, with Trader Joe DEX as the “primary driver,” which saw over $333 million worth of Avalanche Wrapped Ether (WETH.e) volume during the past seven days.

“Key players” driving this activity included traders on Nansen’s top 100 leaderboard, who made multiple six-figure trades, Sondergaard said.

Aave lending protocol was the secondary driver with $624,000 worth of flash loan activity through DEX aggregators, while the Benqi Protocol was another significant driver, after receiving over $650,000 worth of deposits from cryptocurrency trading bots.

Automated trading activities and “high balance” whale addresses drove the rest of the blockchain activity, with the Black (BLACK) token seeing $14 million in trading volume, with multiple whale addresses amassing up to $95,000 worth of the token.

Related: Kanye West’s YZY token: 51,000 traders lost $74M, while 11 netted $1M

Top blockchains by key metrics, change in weekly transactions. Source: Nansen

Looking at one of Avalanche’s main competitors, the Solana blockchain saw a 6.7% decrease in weekly transactions, including 433 million transactions across 18.9 million active addresses, Nansen data shows.

Solana top entities by weekly transactions. Source: Nansen

Similar to Avalanche, DEX trading drove the majority of blockchain activity, including Raydium DEX with 12.4 million users and 297 million transactions, followed by Fluxbeam DEX with 7.3 million users and 178 million transactions.

Magazine: Altcoin season 2025 is almost here… but the rules have changed



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