Aster vs Hyperliquid: BNB Chain DEX Perps Volume Derails the HYPE Train

Core Insights - The competition among decentralized exchanges (DEXs) is intensifying, with Binance Chain-based Aster surpassing Hyperliquid in 24-hour perpetual trading volume, reaching $21.6 billion compared to Hyperliquid's $10.7 billion [1] - Aster's trading volume positions it eighth among DEXs with $583 million, while Hyperliquid ranks seventh with $609 million [2] - Aster's native token has increased by 41.4% in the last 24 hours, achieving a market cap of $3.9 billion, making it the 47th largest cryptocurrency [2] - Hyperliquid's HYPE token has decreased by 6.2% but maintains a market cap of $12.1 billion, ranking as the 20th largest cryptocurrency [3] Market Dynamics - Interest in Aster has been bolstered by Binance co-founder Changpeng Zhao's endorsement, indicating a positive outlook for the DEX [4] - The recent surge in trading volumes and DEX activity is attributed to technical upgrades, incentive programs, and integration with the Binance ecosystem, suggesting a sustainable trend [4] - A significant increase in interest in BSC-based DEXs has led to substantial rallies for several altcoins [5] - Binance Chain validators are proposing to reduce transaction fees from 0.1 gwei to 0.05 gwei and accelerate block intervals, which could enhance BSC's competitive position [5][6] Future Outlook - Predictions for Aster indicate an 87% chance of ranking among the top 40 coins on CoinMarketCap this month, although over 60% of forecasts expect it to remain below $4 through November [3] - Despite Binance Chain's efforts to attract interest away from Hyperliquid, the latter remains a significant player in the market based on longer-term data [6]