Aster Surges Under CZ's Leadership, Challenging Hyperliquid in Perpetual Futures
Binance CEO Changpeng Zhao, known as CZ, has steered Aster to become a major player in Perpetual Futures over the past three weeks. Aster's meteoric rise is part of CZ's strategy to revitalise the BNB Chain and challenge competitors like Hyperliquid.
Aster's influence is evident in its soaring fees and total value locked. Fees have surged to $109 million, while total value locked has reached a staggering $2.3 billion. Despite a recent price pullback, Aster's on-chain and trading metrics have reached unprecedented highs.
Aster's weekly trading volume has surpassed rival Hyperliquid's, handling over $571 billion compared to Hyperliquid's $49 billion. Technical indicators suggest that Aster's rally may resume, despite the temporary correction. The Aster price has retreated to $2 after peaking at $2.27 last week.
Aster, under CZ's leadership, has emerged as a significant force in the Perpetual Futures market. Its impressive performance, despite recent price fluctuations, indicates a strong future. As Aster continues to outperform rivals, the BNB Chain's revival and Binance's competitive stance are bolstered.
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