Token Hype by Hyperliquid hits a new all-time high at $59.39, with a market cap close to $16 billion and a 40% surge in a month, outperforming Bitcoin and Ethereum.
Arthur Hayes sees massive potential, even predicting a valuation multiplied by 126 thanks to the stablecoin boom and Hyperliquid’s future earnings.
The ASTER token, backed by CZ and YZi Labs, skyrocketed by 430% in 24 hours, showcasing the open war between Hyperliquid and Binance in the DEX market.
Tokens from DEX Ruling the Crypto Market
The DEX tokens market is heating up: the HYPE token, native to the decentralized platform Hyperliquid, soared to an unprecedented peak of $59.39 Thursday morning. In just one day, the token surged by 8%, bringing its market cap just below $16 billion.
Over a month, the performance is even more remarkable: +40%. Enough to overshadow market giants like Bitcoin, Ethereum, SOL, or XRP, which have been much more timid over the same period.
A Market in Full “Hype” Mode
Former BitMEX chief, Arthur Hayes, quickly praised the milestone, calling the event an “All-time Hype.” The star trader is convinced of the token’s massive potential. In August, he even mentioned a potential 126x increase, betting on the expansion of stablecoins to boost Hyperliquid’s annual revenue to $258 billion, compared to the current $1.2 billion.
Meanwhile, ASTER Makes an Entrance
But the day was not solely dominated by Hyperliquid. Just hours before its peak, Changpeng ‘CZ’ Zhao, former CEO of Binance, shared a chart of the ASTER token, the new star of a rival DEX.
Launched in July, backed by YZi Labs (formerly Binance Labs) and PancakeSwap, ASTER has already shown astonishing performance: +430% in 24 hours, with a price at $0.50. A lightning-fast launch that clearly indicates a battle brewing between the two platforms.
It is certainly not CZ’s usual habit to share a token chart other than BNB. Yet here, the intentions of the Binance founder are clear: it is time to put an end to Hyperliquid’s skyrocketing growth, which is dangerously eroding the market share of the world’s top exchange. And for that, CZ is betting on Aster Dex, with both his funds and influence.
On the stats side, Aster Dex claims to have already generated over $500 billion in exchange volume, with 2 million users. Astounding figures that even prompt us to question: dare they lie to us?
Hyperliquid Facing the Binance Giant
Hyperliquid’s ascent is undeniable, but the road ahead is long. According to CoinGecko, the DEX shows $790 million in daily volume, far behind Binance’s $34 billion. The trend, however, is clear: the growing volumes of Hyperliquid are gradually challenging the hegemony of the global leader.
Between a HYPE at its ATH and an ASTER propelled by CZ, the decentralized derivatives market is becoming the stage for a rivalry that could reshape the balance of power in crypto and offer opportunities for the boldest…
