Aster Surges to No. 1 Among Perpetual DEXs With $42B Daily Volume and $25M Fees

Aster, a decentralized perpetuals exchange, has taken the top spot on DefiLlama’s leaderboard for daily fees and trading volume, outpacing rivals Hyperliquid and Lighter by a wide margin.

DefiLlama data shows Aster generated more than $25 million in fees over the past 24 hours, far ahead of Hyperliquid, which recorded $3.17 million and ranked fifth. In terms of trading activity, Aster processed a remarkable $42 billion in volume during the same period, solidifying its lead in the perpetual DEX sector.

Backed by YZi Labs and a Strategic Rebrand

Aster’s rapid rise is supported by YZi Labs (formerly Binance Labs), with an early focus on multi-chain compatibility, starting with BNB Chain. The project was previously known as APX Finance before rebranding to Aster in March following its merger with Astherus.

The exchange offers familiar features such as high leverage and cross-chain trading, but it has distinguished itself with “hidden orders” — a tool that allows users to place invisible limit orders, shielding strategies from other traders. This innovation sets it apart from most perpetual DEXs, which typically operate with transparent on-chain order books.

Token Momentum and High-Profile Endorsements

Aster’s momentum accelerated in September after its token launch on the 17th, when the price surged significantly from its initial valuation. The project gained further visibility when Binance co-founder Changpeng Zhao endorsed it publicly on X, noting that while Aster competes with Binance, it ultimately benefits the BNB ecosystem. Zhao also confirmed that YZi Labs holds a minority stake in the exchange.

As of now, Aster’s native token ASTER is trading at $1.89, down 1.76% in the past 24 hours, according to price data. Despite the dip, the token maintains a fully diluted valuation of $15.1 billion — a sharp climb from its initial FDV of $560 million at launch.

By topping both fees and volume charts, Aster has positioned itself as a serious contender in the perpetual DEX market. With strong backing, unique features, and growing visibility, the platform’s trajectory will be closely watched as competition in the decentralized derivatives space intensifies.