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Aster Surpasses Tether and Circle in Fee Volume

Aster Surpasses Tether and Circle in Fee Volume

CZ acknowledged Binance's involvement in launching the DEX.

The decentralized exchange Aster has claimed the top spot in the DeFi Llama protocol rankings by fee volume. Over the past 24 hours, the platform’s fees exceeded $29 million, compared to $22 million and $7 million for Tether and Circle, respectively.

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Source: DeFi Llama.

The trading platform on the BNB Chain also emerged as the leader among futures DEX by trading volume. In the past 24 hours, Aster recorded a turnover of $42 billion. By comparison, Lighter and Hyperliquid reported $7 billion and $5 billion, respectively.

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Source: DeFi Llama.

At the time of writing, the platform’s TVL stands at $2.2 billion.

CZ Acknowledges Binance’s Role in Aster’s Launch

On September 17, Aster launched its native token. The event was supported by Binance founder Changpeng Zhao (CZ), prompting the community to suspect his possible involvement in the exchange’s creation.

The Chinese entrepreneur confirmed that several former Binance employees work at Aster, and YZi Labs holds a minority stake in the platform.

CZ also added that the DEX directly competes with his founded CEX, “but helps BNB.”

Since its debut, the ASTER token has remained a trending topic on CoinGecko. In less than two weeks, its price surged nearly 2000% — from $0.09 to $1.94.

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Hourly chart ASTER/USDT on MEXC. Source: TradingView.

The coin’s market capitalization reached $3.2 billion, while FDV stands at $15.5 billion.

Earlier, an analyst known as Marcell predicted a 480% rise for ASTER. He believes the asset will soon surpass HYPE in market value.

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