Aster’s total value locked reached $1.85 billion on Wednesday, a 196% increase compared to last Friday’s $625 million.
DefiLlama data showed that Aster topped daily perpetual trading volumes with $24.7 billion on Wednesday, surpassing competitors including Hyperliquid and edgeX.Aster, a decentralized perpetuals exchange on BNB Chain, saw open interest surge nearly 33,500% in less than a week, challenging that of its top rival, Hyperliquid.
that Aster’s open interest jumped from $3.72 million on Friday to $1.25 billion at the time of writing. The spike in active contracts signaled that traders were piling into the platform, challenging its biggest competitor, Hyperliquid.refers to the total number of outstanding contracts that haven’t been settled. It’s used as a key metric to gauge liquidity and market conviction toward a project. Aster’s open interest surge showed that the traders are willing to deploy capital on the platform.This put Aster’s 24-hour performance above its strongest competitor, Hyperliquid, which only recorded about $10 billion on Wednesday. Players like edgeX and Lighter followed closely, with daily volumes of $8.25 billion and $6.18 billion, respectively.Hyperliquid remains on top of the charts when it comes to seven-day and 30-day perpetual volumes. In the past week, Hyperliquid recorded $66 billion and had nearly $300 billion in the last 30 days.told Cointelegraph that Aster had received its support and that of YZi Labs . This included mentorship, ecosystem exposure and access to technical and marketing resources. Crypto data platform CoinMarketCap also boosted Aster through its CMC Launch program, a launchpad that features new projects. CMC Launch lead Jin Choo told Cointelegraph that the campaign to support Aster had generated significant exposure. This included 400 million homepage banner impressions, over 3 million tweet impressions and a combined reach of over 5 million through newsletters, app notifications and media coverage. “The campaign also recorded over 1.5 million views across live events, 1.5 million landing page clicks and more than 500,000 clicks to Aster’s project page,” Choo added.for an undisclosed amount. However, when asked if YZi Labs or Binance had a hand in Aster being chosen for CMC Launch, Choo said no. He told Cointelegraph that the project was chosen solely based on its merits, in line with CMC Launch’s qualification criteria, which include innovation, market potential, and community traction. “Binance and CoinMarketCap are separate entities with independent operations,” Choo told Cointelegraph. “Binance has no control or influence over the way CoinMarketCap is managed and operated, including how we conduct project promotions.”Bitcoin upgrade is splitting developers and purists
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Hyperliquid’s Native Stablecoin USDH Hits Over $2M Trading Volume After DebutUSDH, backed by cash and U.S. Treasury securities, aims to reduce dependency on external stablecoins.
Read more »
CZ Issues Epic Response to Claims He Could Wreck HyperliquidBinance Founder hinted he is not taking sides in Hyperliquid versus Aster dominance war
Read more »
Hyperliquid price eyes $50 amid USDH stablecoin launchHyperliquid (HYPE) is staging a recovery, following five consecutive days of declines, which have been mirrored across the cryptocurrency market since late last week.
Read more »
Paxos’ USDH: Hyperliquid’s Bid to Redefine StablecoinsPaxos’ USDH plan brings PayPal/Venmo links, a $20-million fund and yield sharing. Could it turn Hyperliquid into DeFi’s next liquidity hub?
Read more »
Hyperliquid stablecoin goes live after fierce bidding for issuance rightsHyperliquid’s first native stablecoin, USDH, has launched with a USDC pair after Native Markets won issuance rights.
Read more »
Hyperliquid Price Forecast: HYPE risks further losses as TVL, Open Interest declineHyperliquid (HYPE) price is down over 6% at the time of writing on Thursday, extending the downtrend for the seventh day. The Decentralized Exchange (DEX) token risks further losses as the launch of its native USDH stablecoin fails to boost capital inflow in derivative markets or on its platform.
Read more »