Aster climbs to first spot for daily fees and volume among perpetual DEXs

Decentralized perpetuals exchange Aster is currently the top-ranking protocol on DefiLlama in terms of fees generated, surpassing Hyperliquid and other perpetual DEXs.

According to DefiLlama data, Aster recorded over $25 million worth of fees in the past 24 hours, placing it above other protocols. Its competitor Hyperliquid placed fifth by generating $3.17 million in the past day.

Aster also clocked in a staggering $42 billion in 24-hour volume — representing a commanding lead over competitors Hyperliquid and Lighter, which trailed in second and third place, respectively.

Backed by YZi Labs (formerly Binance Labs), Aster has an emphasis on multi-chain support, initially prioritizing BNB Chain. It was formerly known as APX Finance, before a rebrand following its merger with Astherus in March. 

While it offers the high leverage and multi-chain features standard to perpetual DEXs, Aster's core differentiator is its "hidden orders" feature, which allows users to place entirely invisible limit orders. This presents a stark contrast to the transparent order books of most on-chain perpetual decentralized exchanges.

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Aster recently gained significant traction following its token launch on September 17, during which the price appreciated considerably. This buzz was further amplified when Binance co-founder Changpeng Zhao publicly endorsed the platform on X. Zhao also confirmed another social media post that said YZi Labs has a minority stake in Aster.

"Few understand this," Zhao wrote on X Sunday. "Aster competes with Binance, but helps BNB."

Meanwhile, the platform's native token ASTER is trading down 1.76% at $1.89, according to The Block's Aster price page. The token currently holds a fully diluted valuation of $15.1 billion, showing a notable growth from its initial FDV of $560 million at its token generation event.