Aster, the rising star in decentralized perpetual futures trading, just smashed a milestone: over $700 million in 24-hour volume on Hyperliquid, the high-performance DEX leading the pack. This explosive growth isn’t isolated—it’s fueled by a TVL spike to $655 million on BNB Chain, a native token launch that sent prices soaring 1,600%, and speculation around Binance co-founder CZ’s endorsement. As crypto derivatives heat up in 2025, Aster’s trajectory signals a maturing DeFi landscape where retail and institutional players chase leverage without centralized gatekeepers.

From whale buys to protocol integrations, Aster’s momentum is reshaping perpetual trading. Whether you’re a trader eyeing perps or a DeFi enthusiast tracking TVL, this guide unpacks the numbers, drivers, and what’s next. Let’s dive into why Aster is the talk of the chain.

Aster’s Volume Milestone: $700M+ on Hyperliquid’s Backbone

Riding the Hyperliquid Wave

Hyperliquid, known for its lightning-fast perpetual contracts and deep liquidity, has become the go-to for high-volume DEX trading. Aster, a BNB Chain-based protocol specializing in perps, leveraged this infrastructure to clock $700 million in 24-hour volume—a figure that underscores the platform’s scalability. This isn’t a flash in the pan; perpetual DEX volumes have ballooned across the board in 2025, with Hyperliquid routinely topping multi-billion-dollar days amid retail frenzy and institutional inflows into crypto derivatives.

Aster’s edge? Seamless integrations with BNB Chain protocols, allowing users to trade futures on assets like BTC, ETH, and altcoins with up to 50x leverage. The result: a user-friendly interface that rivals CEXs without the custody risks, drawing traders who want speed and self-sovereignty.

Key Metrics at a Glance

Here’s how Aster stacks up in the perpetual DEX arena:

Platform	24h Volume (Recent Peak)	TVL (Current)	Chain/Base	Leverage Max
Aster	$700M+	$655M	BNB Chain	50x
Hyperliquid	$2B+	$1.5B+	Own L1	50x
GMX	$150M	$450M	Arbitrum	50x
dYdX	$200M	$300M	Cosmos	20x

Aster’s volume rivals giants like GMX and dYdX, but its BNB Chain focus keeps fees low (under $0.01 per trade), making it a magnet for cost-conscious degens.

TVL Explosion: From $390M to $2B Peak on BNB Chain

Integrations Driving Liquidity

Aster’s total value locked (TVL) has skyrocketed to $655 million, nearly double its pre-launch average of $300-400 million. It briefly touched $2 billion right after its native token APX (or ASTER in some references) debuted, before settling amid market volatility. This surge stems from deep ties with BNB Chain ecosystem players, including mentorship and funding from YZi Labs (formerly Binance Labs), which invested in Aster’s predecessor, Astherus, back in November 2024.

BNB Chain reps hail Aster as the top perpetual DEX on the network, with plans to incubate more derivatives protocols. Features like cross-chain bridges and yield farming incentives have locked in liquidity providers, boosting open interest to $3.72 million—impressive, though still trailing Hyperliquid’s $15 billion.

Why BNB Chain? Low Costs Meet High Throughput

BNB Chain’s sub-second finality and gas fees under a cent make it ideal for perps, where speed trumps all. Aster’s integrations with wallets like MetaMask and protocols like PancakeSwap have funneled users seamlessly, turning TVL growth into sustained volume.

Token Launch Mania: 1,600% Surge on CZ Hype and Whales

CZ’s Tweet Ignites Speculation

The real fireworks? Aster’s native token APX/ASTER launch, which rocketed 1,600% in days, hitting peaks above $0.50 from a sub-$0.03 start. Community buzz exploded after CZ (Changpeng Zhao) tweeted “keep building” to the team—his first public nod since his 2024 Binance exit. Speculation ran wild: Is CZ secretly backing Aster as a Hyperliquid rival? Profile tweaks (dropping “ex-Binance”) and his BNB holder status fueled theories, though he’s legally barred from managing exchanges.

Whales piled in too: On-chain data shows massive buys from addresses linked to early BNB investors, with over $50 million in ASTER scooped up post-launch. This liquidity injection stabilized prices amid the pump, pushing market cap past $200 million.

Price Action Snapshot

• Launch Price: ~$0.03
• Peak Gain: 1,600% (to $0.50+)
• Current (as of Sept 2025): ~$0.35, with 24h volume at $434M
• Supply: 1B total, 20% circulating

Utility? ASTER powers governance, fee discounts, and staking yields up to 15% APY—classic DeFi hooks that kept the rally alive.

Binance Ties: Ecosystem Boost Without Direct Listing

YZi Labs and BNB Chain Backing

While Binance hasn’t listed ASTER yet, its shadow looms large. YZi Labs (co-founded by CZ and Yi He) provided incubation, tech support, and marketing muscle, accelerating Aster’s growth. BNB Chain’s official endorsement positions Aster as a derivatives hub, with upcoming grants for similar protocols.

No direct Binance announcement ties in (recent ones focus on unrelated tokens like BLESS), but the ecosystem synergy—via BNB’s low fees and Hyperliquid crossovers—amplifies Aster’s reach. Traders speculate a future listing could 2x the token again.

What’s Next for Aster and Perpetual DEXs?

DeFi Derivatives on the Rise

Aster’s story mirrors 2025’s perp boom: Derivatives now outpace spot trading 10:1 in DeFi, with $10B+ daily volumes chain-wide. Challenges like withdrawal glitches (user complaints post-launch) highlight growing pains, but fixes are rolling out.

For traders: Stake ASTER for yields, farm liquidity on BNB pools, or trade perps with 1% fees. Risks? Volatility and smart contract audits—always DYOR.

Bullish Outlook

With CZ’s wink, whale bets, and Hyperliquid’s tech, Aster could hit $1B TVL by year-end. It’s a bet on BNB Chain’s resurgence, proving DeFi perps aren’t just hype—they’re here to stay.

Traded ASTER yet? What’s your take on CZ’s influence? Drop it below—let’s discuss the next DeFi dark horse.

Disclaimer: Crypto investments involve risk; prices volatile as of September 2025. Not financial advice—research thoroughly.