HYPE Shows Stronger Long-Term Liquidity Edge Over ASTER in DeFi Perps

• ASTER dominates daily perp trading volume, signaling aggressive speculation in the DeFi sector.

• HYPE excels in 30-day liquidity with $310 billion in volume, offering more stable market depth for traders.

• HYPE’s TVL reaches $4 billion, nearly four times ASTER’s, backed by data from DeFiLlama as of October 2025.

Discover why ASTER surges in daily DeFi perp volume while HYPE builds long-term liquidity. Explore key comparisons and trading insights for smarter crypto decisions today.

What is the difference between ASTER and HYPE in DeFi perpetual trading?

ASTER and HYPE are prominent tokens in the decentralized perpetual futures exchange (perp DEX) ecosystem, with ASTER focusing on high-leverage, short-term speculative trading and HYPE emphasizing deep liquidity and stable long-term activity. In the latest data from October 2025, ASTER’s 24-hour perp volume hit $15 billion, nearly four times HYPE’s $3.75 billion, highlighting its appeal to aggressive traders. Meanwhile, HYPE’s superior 30-day volume of $310 billion underscores its role as a resilient platform mimicking centralized exchange experiences.

How does ASTER’s short-term volume compare to HYPE’s long-term liquidity?

ASTER’s platform has captured significant attention for its high-risk, high-reward environment, where traders engage in leveraged positions that drive explosive daily volumes. According to DeFiLlama metrics, this surge reflects a market preference for quick, speculative plays amid volatile crypto conditions in mid-October 2025. In contrast, HYPE maintains a steadier profile, with its total value locked (TVL) at $4 billion—approximately four times ASTER’s—providing deeper order books and reduced slippage for larger trades. This disparity is evident in price performance: HYPE limited its monthly drawdown to 15%, while ASTER experienced a 27% drop, including a sharp 21% single-day loss that erased recent gains and pushed it back to late September levels.

Expert analysis from on-chain observers, such as those cited in CoinDesk reports, notes that ASTER’s leverage features attract short-term speculators, but this comes with elevated volatility risks. HYPE, built on a Hyperliquid chain optimized for perpetuals, offers a CEX-like interface with lower fees and faster executions, fostering sustained user retention. Official blockchain data from Etherscan and Dune Analytics further shows HYPE’s transaction throughput averaging 20% higher during peak hours, supporting its liquidity edge.

Frequently Asked Questions

What drives ASTER’s higher 24-hour perp volume in DeFi trading?

ASTER’s dominance in 24-hour perpetual volume stems from its high-leverage options, up to 100x, which appeal to traders seeking rapid gains in the volatile crypto market. As of October 20, 2025, this resulted in $15 billion in activity, driven by speculative bets on altcoins and majors like Bitcoin, per DeFiLlama statistics. However, this focus amplifies liquidation risks during downturns.

Is HYPE a better choice for long-term DeFi perp DEX trading?

Yes, Hyperliquid’s HYPE token positions it well for long-term traders due to its robust liquidity and market depth, making it ideal for executing large positions without significant price impact. With $310 billion in 30-day volume—over twice ASTER’s—and a TVL of $4 billion, HYPE provides stability that sounds reassuring for voice searches on reliable DeFi platforms.

Key Takeaways

• Short-term speculation favors ASTER: Its $15 billion daily perp volume reflects high-leverage trading enthusiasm, but this heightens volatility risks for users.
• HYPE leads in sustained liquidity: Achieving $310 billion over 30 days and $4 billion TVL, it offers deeper markets ideal for professional traders seeking stability.
• Price resilience highlights HYPE’s edge: Limiting drawdowns to 15% versus ASTER’s 27%, HYPE emerges as a lower-risk option in the perp DEX space amid Q4 2025 uncertainties.

Conclusion

In the competitive landscape of DeFi perpetual DEX platforms, ASTER shines in short-term volume and speculative trading, while HYPE secures long-term liquidity and resilience with superior TVL and volume metrics. As market dynamics evolve into late 2025, traders should weigh these factors against their risk tolerance, with HYPE appearing poised for broader adoption. Stay informed on en.coinotag.com for ongoing crypto insights and strategic trading updates.

Key Takeaways

Which platform shows stronger long-term liquidity?

HYPE clearly outpaces ASTER, signaling deeper, more resilient market depth.

Where is short-term speculative activity concentrated?

ASTER dominates 24-hour perp volume, highlighting aggressive, high-leverage trading behavior.

In the DeFi perp DEX race, Aster [ASTER] and Hyperliquid [HYPE] each bring their own flavor. Aster brings high leverage, while Hyperliquid offers deep liquidity, steady activity, and a CEX-like experience. 

However, based on 24-hour perp volume, it seems investors are still chasing the “high-risk, high-reward” thrill in ASTER, with its volume topping $15 billion, nearly 4x the volume of HYPE. 

Simply put, the higher perp volume on ASTER signals strong speculative interest. It shows the market is currently favoring short-term, high-leverage strategies over stable, long-term liquidity.

Source: DeFiLlama

Zooming out, the story looks very different.

Over the past 30 days, HYPE has clearly outperformed ASTER in capturing perp liquidity, with total volume hitting $310 billion, about 2.14x ASTER’s $145 billion, signaling that HYPE is still winning the longer-term game.

This trend is reinforced by its stronger liquidity position.

HYPE’s TVL sits at $4 billion, nearly 4x ASTER’s, signaling more resilient market depth. Given this momentum, is HYPE now the go-to platform for serious traders, leaving ASTER to chase short-term speculators?

HYPE holds firm as ASTER faces speculative pressure

On-chain divergence is clearly showing up in price action. 

Over the past month, HYPE has managed to limit its drawdown to around 15%. Meanwhile, ASTER has dropped 27%, taking the brunt of the mid-October crash that erased 21% of its gains in a single day. 

This underscores ASTER’s higher risk profile. The heavy leverage and trader frenzy caused ASTER to carve a new lower low, retracing all the way back to late September levels, while HYPE reinforced its $30 support.

Source: TradingView (ASTER/USDT)

In short, traders are gravitating toward HYPE’s deeper market liquidity. 

And this trend isn’t random. ASTER’s delisting from DeFiLlama and the controversy surrounding the Binance founder have pushed capital back into HYPE, showing how macro events can quickly shift on-chain flows. 

Going into Q4, HYPE’s resilience against ASTER is becoming more apparent. Thus, making it a lower-risk play in an already volatile perp market, while ASTER’s elevated risk profile remains fueled by speculation.

Published by COINOTAG on October 20, 2025. Last updated: October 20, 2025. All data sourced from official platforms like DeFiLlama and TradingView for accuracy in financial reporting.