{"id":89343,"date":"2025-09-28T18:49:43","date_gmt":"2025-09-28T15:49:43","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=89343"},"modified":"2025-09-28T18:52:55","modified_gmt":"2025-09-28T15:52:55","slug":"week-in-review-bitcoin-slips-below-110000-as-aster-tops-hyperliquid-by-volume","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/week-in-review-bitcoin-slips-below-110000-as-aster-tops-hyperliquid-by-volume\/","title":{"rendered":"Week in review: bitcoin slips below $110,000 as Aster tops Hyperliquid by volume"},"content":{"rendered":"<p>Bitcoin failed to hold $110,000; the CZ-backed exchange Aster overtook Hyperliquid by trading volume; Plasma launched its mainnet, among other events of the week.<\/p>\n<h2 class=\"wp-block-heading\">Bitcoin fell through $110,000<\/h2>\n<p>By the end of the workweek the digital gold slipped below $110,000. Over the weekend the asset traded around the lows set on the drop, perhaps establishing a new consolidation range.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"610\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-0c4aca9f23073d4d-5466377990281378-1024x610.png\" alt=\"BTCUSD_2025-09-28_17-12-44\" class=\"wp-image-266490\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/img-0c4aca9f23073d4d-5466377990281378-1024x610.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/img-0c4aca9f23073d4d-5466377990281378-300x179.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/img-0c4aca9f23073d4d-5466377990281378-768x457.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/img-0c4aca9f23073d4d-5466377990281378.png 1327w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Hourly chart of BTC\/USD on Binance. Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/?exchange=BINANCE\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>Over seven days bitcoin fell by more than 5%.<\/p>\n<p>Most leading altcoins dropped harder. Ether declined 10% but held the $4,000 psychological level. Solana lost 16% yet stayed above $200.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"596\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-dc4b8e76b6e08dba-5466398294920146-1024x596.jpg\" alt=\"Cryptocurrency Prices, Charts, and Crypto Market Cap  CoinGecko - Google Chrome\" class=\"wp-image-266491\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/img-dc4b8e76b6e08dba-5466398294920146-1024x596.jpg 1024w, https:\/\/forklog.com\/wp-content\/uploads\/img-dc4b8e76b6e08dba-5466398294920146-300x175.jpg 300w, https:\/\/forklog.com\/wp-content\/uploads\/img-dc4b8e76b6e08dba-5466398294920146-768x447.jpg 768w, https:\/\/forklog.com\/wp-content\/uploads\/img-dc4b8e76b6e08dba-5466398294920146.jpg 1265w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Source: <a href=\"https:\/\/www.coingecko.com\/\">CoinGecko<\/a>.<\/figcaption><\/figure>\n<p>Dogecoin (-14.8%) and Cardano (-12.6%) also slid sharply.<\/p>\n<p>The crypto market\u2019s capitalisation fell below $4trn\u2014to roughly $3.8trn. Bitcoin\u2019s dominance, amid the steeper altcoin pullback, firmed to 56.4%.<\/p>\n<p>According to <a href=\"https:\/\/coinmarketcap.com\/charts\/altcoin-season-index\/\">CoinMarketCap<\/a>, the altseason index retreated from the 75 threshold to 66.<\/p>\n<p><a href=\"https:\/\/forklog.com\/en\/news\/what-is-cryptos-fear-and-greed-index\">Crypto Fear and Greed Index<\/a> fell from neutral readings to 37\u2014into moderate fear territory.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-da0c8dcb3fefaebc-5466417112501401.webp\" alt=\"Crypto Fear &#038; Greed Index - Bitcoin Sentiment - Alternative.me - Google Chrome\" class=\"wp-image-266492\"\/><figcaption class=\"wp-element-caption\">Source: <a href=\"https:\/\/alternative.me\/crypto\/fear-and-greed-index\/\">Alternative<\/a>.<\/figcaption><\/figure>\n<h2 class=\"wp-block-heading\">CZ-backed Aster overtakes Hyperliquid by trading volume<\/h2>\n<p>On 24 September the decentralised exchange Aster <a href=\"https:\/\/forklog.com\/en\/news\/cz-backed-dex-aster-tops-hyperliquid-by-daily-volume\">overtook<\/a> Hyperliquid by daily perpetuals trading volume. The platform reached $20.8bn versus $9.7bn for its rival.<\/p>\n<p>By week\u2019s end the gap had only widened\u2014Aster and Hyperliquid posted volumes of <a href=\"https:\/\/defillama.com\/protocol\/aster\">$42.8bn<\/a> and <a href=\"https:\/\/defillama.com\/protocol\/hyperliquid\">$4.6bn<\/a>.<\/p>\n<p>The BNB Chain-based DEX also outpaced its main competitor in fee revenue generation.<\/p>\n<p>Aster emerged from the merger of APX Finance and Astherus in March. The platform drew the crypto community\u2019s attention after launching its eponymous token on 17 September.<\/p>\n<p>A key catalyst was a post by Binance founder Changpeng Zhao (CZ) congratulating the DEX on releasing its native coin.<\/p>\n<p>The community had speculated that the entrepreneur himself initiated a decentralised venue in the BNB Chain ecosystem in response to Hyperliquid\u2019s success.<\/p>\n<p>CZ partly confirmed this, acknowledging that several former Binance employees are part of Aster\u2019s team. YZi Labs, Binance\u2019s venture arm, holds a minority stake in the platform.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">That&#8217;s the correct quote! It&#8217;s not that hard.\ud83e\udd23 <a href=\"https:\/\/t.co\/SNFLOyVIS0\">https:\/\/t.co\/SNFLOyVIS0<\/a><\/p>\n<p>\u2014 CZ \ud83d\udd36 BNB (@cz_binance) <a href=\"https:\/\/twitter.com\/cz_binance\/status\/1972018483304321384?ref_src=twsrc%5Etfw\">September 27, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>CZ himself, by his account, serves as an adviser to Aster. He <a href=\"https:\/\/x.com\/cz_binance\/status\/1972125175085994106\">added<\/a> that the DEX does compete with Binance but ultimately benefits the BNB Chain ecosystem.<\/p>\n<p>In one tweet Zhao <a href=\"https:\/\/x.com\/cz_binance\/status\/1970805413387059703\">noted<\/a> that \u201cnow everyone wants to be a <span data-descr=\"decentralized exchange for perpetual contracts\" class=\"old_tooltip\">Perp DEX\u201d<\/span>.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cMore players will increase the market size faster. A rising tide lifts all boats,\u201d he wrote.<\/p>\n<\/blockquote>\n<h2 class=\"wp-block-heading\">What to discuss with friends?<\/h2>\n<ul class=\"wp-block-list\">\n<li>The hacker who breached UXLINK <a href=\"https:\/\/forklog.com\/en\/news\/hacker-of-uxlink-falls-victim-to-a-cyber-attack\">became<\/a> a victim of an attack himself.<\/li>\n<li>An expert <a href=\"https:\/\/forklog.com\/en\/news\/analyst-says-bitcoins-bull-cycle-is-running-out-of-steam\">pointed out<\/a> that bitcoin\u2019s rally cycle is nearing exhaustion.<\/li>\n<li>The number of crypto millionaires <a href=\"https:\/\/forklog.com\/en\/news\/crypto-millionaires-surge-by-40-in-a-year\">rose<\/a> by 40% over the year.<\/li>\n<li>QCP <a href=\"https:\/\/forklog.com\/en\/news\/qcp-warns-of-potential-bitcoin-drop-to-107000-and-ethereum-to-3300\">warned<\/a> of the risk of bitcoin falling to $107,000 and ether to $3,300.<\/li>\n<\/ul>\n<h2 class=\"wp-block-heading\">Vitalik Buterin sets out the key to scaling Ethereum<\/h2>\n<p>Ethereum co-founder Vitalik Buterin <a href=\"https:\/\/forklog.com\/en\/news\/vitalik-buterin-identifies-key-to-ethereums-scalability\">said<\/a>, that the <span data-descr=\"Peer Data Availability Sampling\" class=\"old_tooltip\">PeerDAS<\/span> technology will be a key component for scaling the network. It will be part of the forthcoming <a href=\"https:\/\/forklog.com\/en\/news\/fusaka-upgrade-what-it-means-for-ethereums-future\">Fusaka<\/a> upgrade.<\/p>\n<p>PeerDAS will let nodes verify block data availability without downloading it in full. Nodes will receive small fragments and, using erasure coding, reconstruct the rest. Buterin called the approach unique.<\/p>\n<p>For some operations in the first version of PeerDAS, full data will still be needed. However, only one honest node will be required, making the system resilient to attacks.<\/p>\n<h2 class=\"wp-block-heading\">Plasma launches mainnet and XPL token<\/h2>\n<p>The L1 blockchain Plasma focused on <a href=\"https:\/\/forklog.com\/en\/news\/what-are-stablecoins\">stablecoins<\/a> <a href=\"https:\/\/forklog.com\/en\/news\/plasma-launches-mainnet-and-xpl-token\">launched<\/a> its mainnet and native token XPL.\u00a0<\/p>\n<p>The project offers fee-free <a href=\"https:\/\/forklog.com\/en\/news\/what-is-tether-usdt\">USDT<\/a> transfers thanks to its own PlasmaBFT consensus.<\/p>\n<p>Developers position Plasma as a solution for global money transfers. The blockchain is <a href=\"https:\/\/forklog.com\/en\/news\/what-is-the-ethereum-virtual-machine-evm\">EVM<\/a>-compatible. At launch it supports over 100 DeFi integrations, including <a href=\"https:\/\/forklog.com\/en\/news\/what-is-aave\">Aave<\/a>, Ethena, Fluid and Euler.<\/p>\n<p>At the time of writing the platform\u2019s TVL reached about $4.9bn (<a href=\"https:\/\/defillama.com\/chains\">DeFi Llama<\/a>). That put Plasma sixth by the metric, ahead of Base.<\/p>\n<p>The project also <a href=\"https:\/\/forklog.com\/en\/news\/plasma-to-launch-neobank-offering-over-10-annual-returns\">announced<\/a> the launch of its own neobank, Plasma One. According to the statement, the vehicle will offer yields above 10% per annum, delivered by <a href=\"https:\/\/forklog.com\/en\/news\/what-is-decentralised-finance-defi\">DeFi<\/a> protocols in the Plasma ecosystem.<\/p>\n<p><strong>Also on ForkLog:<\/strong><\/p>\n<ul class=\"wp-block-list\">\n<li>Nvidia <a href=\"https:\/\/forklog.com\/en\/news\/nvidia-commits-100-billion-to-openai-partnership\">is investing<\/a> $100bn in OpenAI.<\/li>\n<li>Authorities in China and South Korea <a href=\"https:\/\/forklog.com\/en\/news\/china-and-south-korea-impose-new-restrictions-on-the-crypto-market\">introduced<\/a> new restrictions for the crypto market.<\/li>\n<li>Trustee Plus <a href=\"https:\/\/forklog.com\/en\/news\/trustee-plus-responds-to-national-bank-of-ukraines-p2p-operation-concerns\">commented on<\/a> the NBU\u2019s claims about P2P operations.<\/li>\n<li>Circle <a href=\"https:\/\/forklog.com\/en\/news\/circle-explores-reversible-transactions-for-usdc\">will add<\/a> reversible transactions to USDC.<\/li>\n<\/ul>\n<h2 class=\"wp-block-heading\">Uniswap unveils Compact v1 to tackle cross-chain fragmentation<\/h2>\n<p>Uniswap Labs developers <a href=\"https:\/\/forklog.com\/en\/news\/uniswap-introduces-compact-v1-to-address-cross-chain-fragmentation\">unveiled<\/a> The Compact v1, a tool based on ERC-6909 smart contracts designed to eliminate <a href=\"https:\/\/forklog.com\/en\/news\/what-are-cross-chain-bridges\">cross-chain<\/a> fragmentation.<\/p>\n<p>The solution forms \u201ca developer-focused common framework for building customizable and composable systems.\u201d<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThe Compact enables secure cross-chain settlement through a system of reusable resource locks and programmable commitments,\u201d the blog says.<\/p>\n<\/blockquote>\n<p>At the core of the mechanism are sponsor deposits: they place tokens into a contract, creating Resource Locks represented in ERC-6909 format. These locks remain under sponsors\u2019 control but can back multiple Compacts\u2014verifiable commitments with specified conditions under which other participants can access the assets.<\/p>\n<h2 class=\"wp-block-heading\">What else to read?<\/h2>\n<p><a href=\"https:\/\/forklog.com\/en\/news\/when-someone-dies-people-become-richer\">Discussed<\/a> with \u201cParty of the Dead\u201d MP Maksim Evstropov how necroeconomics differs from the economics of the living, how the Proof-of-Death algorithm works, and why capitalism has a distinctly religious character.<\/p>\n<p>We broke down how Plasma, a platform purpose-built for stablecoins, works.<\/p>\n<p>In the regular digest we <a href=\"https:\/\/forklog.com\/en\/news\/phishing-y-combinator-invites-to-drain-crypto-the-takedown-of-americas-largest-sim-farm-and-other-cybersecurity-news\">collected<\/a> the week\u2019s main cybersecurity events.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin failed to hold $110,000; CZ-backed Aster overtook Hyperliquid by volume; Plasma launched its mainnet, among other events of the week.<\/p>\n","protected":false},"author":1,"featured_media":89344,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"Bitcoin slipped below $110k; Aster topped Hyperliquid; Plasma launched mainnet.","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1233,1244],"class_list":["post-89343","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-industry-digests","tag-weekly-summary"],"aioseo_notices":[],"amp_enabled":true,"views":"189","promo_type":"1","layout_type":"1","short_excerpt":"Bitcoin slipped below $110k; Aster topped Hyperliquid; Plasma launched mainnet.","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/89343","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=89343"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/89343\/revisions"}],"predecessor-version":[{"id":89345,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/89343\/revisions\/89345"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/89344"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=89343"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=89343"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=89343"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}