When unifying perpetual trading, cash and Yield Farming, Aster captures user attention.
Aster’s challenge will be to be able to last over time with a successful business, beyond the initial fomo.
The launch of Aster (Aster), the Governance Token of the Decentralized Exchange (Dex), is one of the conversation issues in the digital asset market.
And it’s not for less. In just two weeks, Aster has surprised by the performance he showed since September 17, when he debuted in the market.
Since then, its price went from $ 0.08 to $ 1.55, which represents a rise of approximately 1,837%.
This performance is greatly explained by the support that Changpeng Zhao (CZ), former CEO of Exchange Binance, to the project.
“Well done! Good start! Keep building!” cz tweeted. That was the fuel that Aster needed to “break” the market.
Minutes after that tweet, published on September 17, it transpired that Yzi Labs, previously known as Binance Labs, had discreetly finance the development of Aster, as reported by cryptootics.
In its most recent report, Galaxy Digital, a digital asset management firm, stands out that this great performance It has allowed it to position itself among the protocols with more income in the sector. “This is extraordinary, considering that most people did not know what Aster Dex was before last week,” Galaxy analysts said.
Proof of this is that Aster generated 16.7 million dollars in daily revenues in the last 24 hoursand was only surpassed by Tether, the USDT issuing company, according to data Defillama.
On the other hand, the total blocked value (TVL) of the DEX exceeds 2,271 million dollars.
It should be noted that this indicator represents the total value of assets deposited in intelligent contracts within the protocol, either to provide liquidity in the DEX, carry out loans or participate in Staking, and reflects the magnitude of the funds that support the operation of the Exchange.
Aster is the Native Dex token created in 2024 after the fusion of Astherus and Apx Finance. Token works as a means of governance, utility and staking, allowing users to participate in protocol decisions, access exclusive functions and contribute incentives that strengthen the liquidity of the platform.
When combining perpetual trading, cash and Yield Farming, Aster offers users multiple ways to interact with the DEX and generate yieldsthus capturing your attention within the market.
The DEX works in several networks, such as BNB Smart Chain, Ethereum, Solana and Arbitrum. This allows users to operate with integrated liquidity from different networks and access unified trading without manual bridges or compatibility problems.
The market opportunity
For Galaxy Digital, the great merit of Aster’s drivers is that “they took advantage of one of the great market opportunities.”
The argument of this statement is that they knew how to identify a segment with high potential for growth and profits: perpetual cryptocurrency contracts (PERPS).
Currently, the monthly volume of PERPS exceeds billion dollars, but most are negotiated in centralized exchanges (CEX) as BinanceBybit and okx.
Here comes the interesting: Aster tries to transfer part of that market to a DEX, taking the opportunity to offer decentralized perpetual trading.
Aster’s drivers warned that there is a huge market dominated by CEX and That is why they created a proposal that could capture users and liquidity within the decentralized finance ecosystem (defi), with a significant and relatively low income potential for construction costs against market size.
“Hyperliquid has already shown that an infrastructure of PERPS efficient can climb quickly; It has been one of the biggest winners of the cycle. If a dex of PERPS It offers a massive income potential in relation to its construction cost, new competitors will inevitably appear, ”explain Galaxy analysts.
Aster’s success has shown that a Dex of perpetual contracts can grow rapid and generate high income. This attracts new competitors, forcing projects to differentiate themselves to capture users and liquidity.
“That is exactly what we are seeing. Lightter, Bulk, Edgex, Drift, Pacifica and Zeta are adopting different execution approaches and commissions. More uncontrolled attacks against Hyperliquid and new participants are expected,” the specialists argue.
Aster’s great challenge
Galaxy analysts highlight that Aster’s success “is very driven by narrative and speculation about how far CZ E YZI Labs could go to promote the project.”
The challenge is now the durability of the project. “It is easier to reach income peaks when narratives are new and attractive, but maintaining traction will be more difficult,” they say.
In dialogue with cryptootics, researchers from the area of analysis and research at Exchange Coinex explained: “The support of influential figures means a lot for these new projects. Its support generates instant credibility, it promotes the rapid adoption by users and acts as a powerful marketing tool.” They also added:
This influence helps save the knowledge gap for new investors, but also highlights the speed with which the valuation of a project can be influenced by the feeling of the market.
Exchange Coinex researchers.
In the Aster road map is the implementation of zero knowledge tests to increase privacy and The launch of Aster Chain, its own L1 focused on trading.
With this infrastructure, the project aims to offer private operations without losing transparency in risk management, entering competition with other specialized L1 such as Hyperliquid.
We will have to see If these narratives are strong enough to sustain market interest.