Aster vs Hyperliquid: inside the high-stakes perp DEX war

Newcomer Aster raised eyebrows over the weekend when it tripled in price after listing on Binance. But can the upstart perps exchange dethrone DeFi darling Hyperliquid? Hyperliquid’s dominance of the on-chain perpetual swaps market has been clear, attracting over $6 billion in total value locked (TVL) and cementing user loyalty with a generous airdrop late last year. Traditionally dominated by centralized exchanges (CEXs), Hyperliquid’s rise didn’t go unnoticed by the likes of Binance and friends. As on-chain volumes ballooned, exchanges looked on aghast, watching fees accrue to Hyperliquid users instead of their own coffers source: https://protos.com/aster-vs-hyperliquid-inside-the-high-stakes-perp-dex-war/