Aster vs. Hyperliquid — DEX Wars Escalate as ASTR Token Surges

Aster vs. Hyperliquid — DEX Wars Escalate as ASTR Token Surges

In the decentralized exchange (DEX) arena, competition is heating up — and one of the standout stories is Aster (ASTR) overtaking rival Hyperliquid in on-chain revenue metrics. Over the past 24 hours, ASTR’s market capitalization surged by ~37%, reflecting its rapid gains in daily usage and yield generation. 

According to crypto analytics platforms, Aster recorded $7.2 million in 24-hour revenue, compared to Hyperliquid’s $2.79 million—highlighting a notable shift in user preferences. Meanwhile, Hyperliquid’s native token (HYPE) has been underperforming, with market cap dropping significantly over recent days.

This rivalry underscores a broader trend: DEX ecosystems are no longer niche projects but serious battlegrounds for liquidity, fees, and market share. How each protocol adapts—in terms of incentives, performance, tokenomics—will determine who retains users and capital over the long term.

Traders and builders are paying attention. The DEX that wins in usability, security, and community incentives could set the standard for DeFi’s next chapter.