Key Takeaways
- Crypto whales bought $18.63 million worth of Aster (ASTER) tokens in the past 24 hours.
- Aster’s TVL reached a new all-time high of $2.271 billion, surpassing Hyperliquid’s $2.179 billion.
- Experts believe Aster could outperform Hyperliquid in the coming days.
Aster (ASTER), the newly launched decentralized exchange (DEX) linked to Binance co-founder Changpeng Zhao, “CZ,” is gaining widespread attention from crypto participants. Based on its performance, whale interest, and other fundamentals, it appears poised to soon overtake its rival, Hyperliquid (HYPE).
Aster is already outperforming Hyperliquid in many aspects, though it still lags in market capitalization.
Whale Loads Up on ASTER and Dumps HYPE
A crypto analytics platform, Lookonchain, revealed that whales’ interest in ASTER continues to rise, while interest in HYPE appears to be fading.
Recently, Lookonchain reported that whale wallet addresses 0x500B and 0x9137 withdrew 2.16 million and 1.76 million ASTER tokens, worth $4.24 million and $3.39 million, respectively, as the price began to fall. Meanwhile, Fasanara Capital withdrew 6.036 million ASTER, worth $11 million, from Gate.io.
In contrast, another post revealed that an early HYPE investor sold 4.99 million HYPE, worth $228.76 million, as the price declined.
It’s not about today, since its launch, millions of dollars in daily investments in ASTER have been recorded, according to data shared by Lookonchain on X.
Why Whales Prefer ASTER?
You might be wondering what’s driving whales’ interest in ASTER over HYPE. Is this an ideal time to buy ASTER, or could the price dip?
The key catalyst behind investors’ interest is CZ’s strong connection with the Aster project and his consistent support since its early days, when the price was around the $0.1715 level.
TimesCrypto recently reported that CZ has played an active role in providing coaching and mentoring as part of the program following YZi Labs’ investment.
Expert Opinion Shifts
Experts have begun speculating that, just like Binance became the largest centralized exchange (CEX), CZ could also turn Aster into the number one DEX in the world. However, its competitor Hyperliquid is only 4.8x away.
Meanwhile, renowned crypto trader James Wynn recently shared a bearish outlook on HYPE. In a post on X, he revealed his recent short position in HYPE, noting, “Aster is growing rapidly, with the entire crypto Twitter behind it, I can’t see this train slowing down.”
Aster Vs. Hyperliquid: Current Market Metrics
Aster has flipped Hyperliquid in Total Value Locked (TVL) and daily revenue. According to the crypto analytics platform DeFiLlama, Aster’s TVL and daily revenue stand at $2.271 billion and $16.93 million, respectively, while Hyperliquid’s TVL is $2.179 billion with daily revenue of $6.69 million.
This is happening even though ASTER is yet to be listed on major exchanges like Binance or Coinbase, which have large user bases.
At press time, ASTER is trading near $1.70, down 8% in the past 24 hours, while HYPE stands at $44, down 4.65% over the same period.
