Aster, USDF, and the Rise of Decentralized Perpetuals: Key Insights You Need to Know

Aster’s Rise: Dominating Decentralized Perpetuals Trading

Aster, formerly known as ApolloX, has rapidly established itself as a leader in the decentralized perpetuals trading space. On September 24, 2025, Aster processed over $23 billion in perpetual futures trades, more than doubling the $10 billion recorded by its closest competitor, Hyperliquid, on the same day. This surge in trading volume has positioned Aster as the largest decentralized perpetuals exchange by daily trading volume.

However, while Aster leads in daily trading volume, it still trails Hyperliquid on a 30-day basis. Over the past month, Aster recorded $48 billion in trading volume compared to Hyperliquid’s $300 billion. This highlights the need for sustained growth to solidify its position as the market leader.

ASTER Token: Performance and Valuation

Aster’s native token, ASTER, has experienced significant growth, recently reaching an all-time high of $2.40. This milestone gives the token a fully diluted valuation (FDV) of $20 billion, reflecting growing investor confidence in the platform. However, as with any cryptocurrency, market dynamics remain volatile, and investors should exercise caution.

Key Highlights of ASTER Token:

• All-Time High Price: $2.40

• Fully Diluted Valuation (FDV): $20 billion

• Market Sentiment: Positive, driven by platform growth and innovation

Explosive Growth in Total Value Locked (TVL)

Aster’s rise is further underscored by the exponential growth in its Total Value Locked (TVL). Within a single week, Aster’s TVL surged from $366 million to $1.78 billion, marking an impressive 390% increase. This growth demonstrates the platform’s ability to attract liquidity and build user trust—two critical factors for long-term success.

Why TVL Growth Matters:

• Liquidity Attraction: Higher TVL indicates strong user confidence.

• Ecosystem Strength: A growing TVL supports the platform’s operational scalability.

USDF Stablecoin: A Key Pillar of Aster’s Ecosystem

Aster’s USDF stablecoin has seen rapid expansion, with its supply quadrupling in just one week—from 65 million to 262 million tokens. Projections suggest the supply could soon reach $1 billion, further solidifying USDF’s role as a cornerstone of Aster’s ecosystem.

Benefits of USDF Growth:

• Enhanced Liquidity: A larger stablecoin supply supports seamless trading.

• DeFi Competitiveness: Positions USDF as a strong contender in the stablecoin market.

Revenue Milestones: Aster’s Financial Performance

On September 24, 2025, Aster generated $9 million in daily revenue, ranking it second only to Tether ($22 million) and ahead of Circle. This achievement underscores Aster’s ability to generate consistent revenue, a critical factor for its sustainability and growth.

Revenue Highlights:

• Daily Revenue: $9 million

• Global Ranking: Second among crypto platforms

• Sustainability: Strong revenue metrics bolster long-term viability

Transition to a Proprietary Layer 1 Blockchain

Aster is in the process of testing its proprietary Layer 1 blockchain, marking a significant shift from its initial multi-chain structure. Previously supporting BNB Chain, Ethereum, Arbitrum, and Solana, this transition aims to enhance scalability, reduce transaction costs, and improve user experience.

Advantages of Layer 1 Transition:

• Scalability: Improved transaction throughput.

• Cost Efficiency: Lower transaction fees for users.

• Innovation: Positions Aster as a self-reliant DeFi leader.

Industry-Wide Boom in Perpetual Futures Trading

Aster’s rise aligns with an industry-wide surge in perpetual futures trading. In August 2025, on-chain derivatives volume reached $765 billion, surpassing the total for all of 2023. This growth reflects increasing adoption of decentralized finance (DeFi) and perpetual futures as a trading instrument.

Industry Trends:

• On-Chain Derivatives Volume (August 2025): $765 billion

• Market Growth: Driven by rising interest in DeFi solutions

Support from Binance Founder Changpeng Zhao (CZ)

Binance founder Changpeng Zhao (CZ) has publicly endorsed Aster, contributing to its growing popularity. While CZ’s support has boosted visibility, Aster’s innovative features and strong growth metrics have been equally instrumental in its success.

Impact of CZ’s Endorsement:

• Increased Visibility: Attracts new users and investors.

• Market Credibility: Strengthens trust in Aster’s ecosystem.

Aster’s Multi-Chain Origins and Strategic Evolution

Aster’s journey began as a multi-chain platform supporting BNB Chain, Ethereum, Arbitrum, and Solana. Its transition to a proprietary Layer 1 blockchain represents a strategic pivot aimed at addressing scalability and efficiency challenges. This evolution underscores Aster’s commitment to innovation and its ambition to lead the DeFi ecosystem.

Evolution Highlights:

• Initial Structure: Multi-chain support

• Current Focus: Proprietary Layer 1 blockchain

• Strategic Goal: Enhanced scalability and user experience

Broader Implications for the DeFi Ecosystem

Aster’s rapid growth has significant implications for the broader DeFi ecosystem. Its success highlights the increasing demand for decentralized perpetuals trading and the potential for innovative platforms to disrupt traditional financial systems. However, questions remain about the sustainability of its growth trajectory and the challenges it may face in maintaining its market position.

Key Takeaways for DeFi:

• Market Demand: Rising interest in decentralized trading solutions.

• Innovation Potential: Aster’s success showcases the transformative power of DeFi platforms.

Conclusion

Aster’s rise in trading volume, the growth of its USDF stablecoin, and its transition to a proprietary Layer 1 blockchain are driving its success in the decentralized finance space. As the platform continues to innovate and expand, it faces both opportunities and challenges in navigating the rapidly evolving DeFi landscape. For now, Aster’s achievements serve as a testament to the potential of decentralized finance to reshape the future of trading and investment.