DEX Drama: Aster vs. Hyperliquid – Who’s Winning?

So, like, which token isn’t totally crashing?

Right, decentralized exchange perp trading. Volumes were… similar. Like, almost awkward levels of similar. ✨ But ASTER actually gained this month, which, honestly, is a shock. HYPE? Not so much. Lost a bit of sparkle, poor thing.📉

Is Aster just…pretending?

Apparently, if you look at the Price-to-Fees ratio (because who doesn’t love a good ratio?), Aster is possibly dramatically overvalued. Like, seriously? Dramatic. Hyperliquid is less…extra. It’s just trying to exist, okay? 🤷‍♀️

Aster took a 0.56% dip in the last 24 hours, but still managed a $514.92 million daily trading volume. Show off. Hyperliquid was down 1.54%, limping along at $31.17. The usual suspects (aka Bitcoin) are to blame, naturally. Everyone’s a bit scared, tbh. 👻

Don’t expect fireworks anytime soon, folks. A quick rally? Highly unlikely. But Aster, bless its little heart, managed to overshadow Hyperliquid in something. Which apparently means it might do better on the price charts. Already is, actually. But don’t quote me. 😉

Aster vs Hyperliquid: A Little Showdown

See? Aster’s Token Trading Volume is generally higher. Except for a brief, rebellious phase in late October where HYPE thought it was cool. It wasn’t.

Over 90 days, Aster has a comfortably larger cumulative volume, even though it’s a bit of a newbie (hasn’t quite hit 90 days of trading yet, you know?).

DEX Perp Volume (perpetual futures contracts, for those keeping score) is pretty neck and neck. Aster: $63.7 billion. Hyperliquid: $63.4 billion. So close! It’s exhausting. 😴

The Valuation…Gap. Oof.

This Price-to-Fees ratio is… a lot. Aster’s is way higher than Hyperliquid’s. Lower is better, apparently. Meaning Aster might be a bit overvalued. Just a tiny bit. 😇

Maybe people are excited about Aster’s potential? Or maybe the fee data is just…wrong? Who knows. Blame the algorithms. 🤖

November performance? Oh, the drama. Hyperliquid went down 28.92%. A proper tumble. Struggling with resistance at $34. Sad face. 😔

Aster, meanwhile, was up 10.36%. A rally from $0.82 to $1.4 earlier in the month definitely helped. It’s still kinda wobbling, but at least it’s wobbling upwards. For now.

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2025-11-25 03:29