The perpetual DEX (decentralized exchange) arena is heating up, and Hyperliquid’s dominance is now under serious threat. Aster (ASTER), a relative newcomer, has emerged as a major contender—fueled by a high-profile Binance listing and explosive trading volume. As ASTER rides this momentum, HYPE faces both technical and tokenomic headwinds that could further erode its market position.  

Similar to crypto traders monitoring the shifts in market dominance, Outset PR watches the performance of crypto-native media outlets through the lens of its in-house Outset Data Pulse intelligence reporting to ensure campaigns align with momentum and fit the market context.

Aster’s Meteoric Rise Post-Binance Listing

On October 6, Binance listed Aster (ASTER) with USDT, USDC, and TRY pairs. The move instantly injected deep liquidity into the project, catalyzing a 53.86% jump in trading volume to $1.9 billion. ASTER now carries a “Seed Tag”—Binance’s way of flagging risky but promising tokens—yet no listing fee was charged, signaling the exchange’s confidence in the project.

Within just days, Aster’s weekly trading volume skyrocketed to over $2 billion.

Source: coingecko 

ASTER recently broke out of a $1.80–$2.00 consolidation zone, forming a bullish pennant on the 4-hour chart.

Technical Snapshot:

• Price: $2.09 (↑15.49% in 24h)

• RSI (14): 65.32 – Nearing overbought, but still with upside room

• Support Zone: $1.80–$1.90

• Catalysts: Binance-driven liquidity, airdrop incentives, and technical breakout

HYPE Under Pressure: Token Unlocks and Technical Risks

Hyperliquid (HYPE) remains a powerhouse in the perp DEX niche, but it’s showing signs of stress. A major concern looms on the horizon: starting November 29, approximately 237.8 million HYPE tokens (24% of circulating supply) will begin unlocking monthly over a 24-month period. At current prices (~$48.41), that’s $500 million/month in potential sell pressure.

While Hyperliquid uses 97% of protocol fees for buybacks, this only offsets ~17% of the newly unlocke

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Author: Crypto Daily