Aster Project Depth Analysis: How Perp DEX New Star Reshapes the Decentralization Derivation Market

In the realm of Decentralized Finance (DeFi), perpetual futures trading exchanges (Perp DEX) are becoming one of the most innovative and competitive tracks. According to data, the mental share of the Perp DEX track achieved a rise of up to 10 times by September 2025, significantly leading other zones.

In this technological competition, the Aster project has become the focus of market attention with its innovative features and rapid development.

01 The Competition Among Three Major Perp DEXs: The Rise of Aster

The decentralized perpetual futures trading exchange sector has formed a competitive landscape of three-legged dominance. According to the latest data, Aster's market share has soared to 70%, while Hyperliquid's market share has plummeted from 70% to 10%, and Lighter has also captured 15% of the market share after its mainnet launch.

The three of them have each wielded speed, multi-chain, and zero fees as weapons to launch the transformation battle of Perp DEX.

Aster, as a decentralized perpetual futures and spot trading platform built on the BNB chain, has quickly won user favor with its innovative features such as "no MEV interference" and "one-click execution."

Its daily trading volume soared from several billion dollars at the beginning of 2024 to over 100 billion dollars by October 2025, a rise of more than 25 times, demonstrating an astonishing development momentum.

02 Token Performance and Market Volatility, ASTER's Price Journey

The ASTER token experienced an astonishing rise of 96% in the past week, becoming one of the most eye-catching new projects on the exchange platform. However, the high volatility of the cryptocurrency market is also fully reflected in ASTER.

As of October 10, the price of the ASTER token is $1.65, down 9.53% from the previous day, with a fluctuation range between $1.62 and $1.89.

This adjustment has caused ASTER to fall 29.6% from its historical high of $2.42 (September 24). Market analysts point out that Aster is facing further downward pressure after losing the support level of $1.80, with a new resistance zone between $1.92 and $2.00.

The movements of giant whales and their impact on the market

On-chain data monitoring shows that a whale or institutional address that hoarded 133 million dollars worth of ASTER has allegedly sold 14.06 million ASTER, approximately 28.2 million dollars, in the past three days.

The address last transferred tokens to the CEX on October 10, transferring tokens worth 1.96 million USD. This large-scale sell-off undoubtedly exerted tremendous pressure on the price of ASTER.

Currently, this address still holds 50.47 million tokens on the blockchain, worth approximately 85.3 million USD, and its subsequent movements will remain a key factor influencing the price trend of ASTER.

03 Controversies and Challenges, the Tests Faced by Aster

The development path of Aster has not been smooth sailing. Recently, the DeFi data analysis platform DefiLlama removed Aster's perpetual trading volume indicator from its platform due to concerns about suspicious wash trading.

This decision stems from DefiLlama's discovery of an unusual correlation between Aster's daily trading volume and Binance's daily trading volume.

The anonymous founder of DefiLlama, 0xngmi, pointed out through analysis that Aster's recent Perptual Futures trading volume shows a "nearly perfect correlation" with Binance's trading activity.

He found that when comparing the XRPUSD trading pair, Aster showed a 1:1 correlation with Binance, while its competitor Hyperliquid had an independent trend.

This discovery has raised doubts in the market about the real trading volume of Aster and has also contributed to the recent price decline to some extent.

04 Phase Two Airdrop, Aster's New Initiative

Amid market fluctuations and controversies, Aster is advancing its development roadmap as planned. The project team has announced that the second phase airdrop inspection page will go live on October 10 at 21:00.

This phase of the airdrop will unlock 4% of the total supply as part of the reward distribution.

According to the official announcement, Aster has added more flexibility to the way users can claim Genesis Phase 2 (S2) rewards: participants can choose to receive the ASTER airdrop as usual, or opt for a full refund of S2 trading fees, essentially treating it as a zero-fee trading activity.

The reward collection will open on October 10, and the token distribution will begin on October 14. These rewards will have no lock-up period, allowing participants to use their tokens immediately.

05 Future Outlook, Aster's Development Potential

Despite facing short-term fluctuations, Aster's performance in the derivatives market remains noteworthy. Data shows that Aster's open interest surged from nearly zero to 5 billion dollars within two weeks, accounting for one-third of HyperliquidX's total open interest.

This rise indicates the market's willingness to deploy funds on the platform and shows investors' confidence in the Aster platform.

In addition, Aster has also gained the attention of several high-profile individuals. Former Binance CEO CZ has publicly praised the rapid rise of the Aster project.

YouTube star MrBeast reportedly also purchased over 167,000 ASTER tokens recently, worth $320,000, bringing his total investment to $1.28 million.

Long-term Price Prediction

Despite short-term price pressures, the long-term price forecast for ASTER remains optimistic. According to some analyses, by 2030, ASTER could reach a range of $4.37 to $9.13.

This means that the potential return rate could reach as high as 346.14% from the current level. However, these forecasts are only market analyses, and as cryptocurrencies are high-volatility assets, investors should make cautious decisions based on thorough research.

Future Outlook

As the second phase of the Aster airdrop progresses, the market is closely watching whether this project can overcome controversy and regain its rise. In the coming weeks, whether Aster can maintain key support levels, whether whales will continue to sell off, and whether its real trading volume data can win market trust will determine the future trajectory of this Perp DEX star.

For the cryptocurrency world, the development journey of Aster once again confirms the inherent nature of the industry where innovation coexists with risk - only projects that can withstand market tests can stand firm amidst volatility.