This Monday, November 10, the perpetual futures decentralized exchange (DEX) Aster surpassed Hyperliquid as the leader in 24-hour trading volume. According to Defilama data, Aster reached a record $11.94 billion. This milestone was fueled by influential endorsements, including from former Binance CEO Changpeng “CZ” Zhao, who highlighted that Aster’s user-centric design, featuring high leverage (1001x) and yield, is “what users want now.”
Aster’s rise reflects a significant shift in the dynamics of the decentralized trading market. The immediate impact is the validation of retail-centric platforms; Aster’s success demonstrates a clear change in user demand, a trend reminiscent of DYDX in 2022. Public validation from figures like CZ underscores a broader acceptance of user-centric designs in the industry.
Looking ahead, Aster’s innovative approach will be key. Historical analysis suggests that platforms focused on collateral innovation and retail enhancements may drive regulatory deliberations. Observers will be watching to see if Aster can maintain this volume and if its success will force competitors like Hyperliquid to adapt their offerings, potentially leading to broader financial adoption.
Source: https://defillama.com/protocol/perps/aster
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