Is CZ’s “well done” for Aster the first step to dismantle Hyperliquid?
The post Is CZ’s “well done” for Aster the first step to dismantle Hyperliquid? appeared on BitcoinEthereumNews.com.
CZ’s “well done” marked Aster’s rise, and possibly the start of his challenge to Hyperliquid’s position at the top. Summary Aster launched on Sep. 17 with backing from CZ-linked YZi Labs and PancakeSwap, debuting as a direct challenger to Hyperliquid. ASTER’s token surged from $0.08 to $1 within 24 hours, with $1.85B in value locked and strong airdrop demand. Hyperliquid, now handling up to 25% of Binance’s perps flow, remains the benchmark with $330B monthly turnover and rapid execution speeds. CZ praised Aster as “well done” and critics see it as his attempt to counter Hyperliquid’s dominance, reviving speculation about his ongoing role in Binance. Aster positions itself as Hyperliquid’s rival Aster entered the market on Sep. 17 with its Token Generation Event and the immediate listing of its native token ASTER, marking the project’s formal debut as a direct challenger to Hyperliquid (HYPE). The exchange had first been introduced in July as Aster Chain and is backed by Changpeng Zhao linked YZi Labs, formerly Binance Labs, along with PancakeSwap (CAKE), the leading decentralized exchange on BNB Chain. Its arrival drew strong attention because of its ties to CZ, the former Binance chief, who continues to support the project through YZi Labs, a group tied to Binance’s investment arms. Aster is built to capture the same on-chain derivatives market that Hyperliquid has dominated in recent months, and trading on launch day showed immediate traction. ASTER opened near $0.08, crossed $0.20 within hours, and traded in a wide range between $0.10 and $1.27, according to CoinGecko. As of Sep. 18, the token was priced at $1, up more than 330% in 24 hours. Reports also placed total value locked on the platform above $1.85 billion, showing that participation extended beyond speculative flows. Aster distributed 704 million tokens, around 8.8% of supply,…
Filed under: News - @ September 19, 2025 1:24 am