Aster continues meteoric rise to news highs, USDF grows 4x in a week

Aster climbed to a caller grounds precocious connected Tuesday aft the decentralized derivatives level overtook Hyperliquid successful trading measurement for the second time successful a row.

DefiLlama information shows that connected Sept. 24, Aster, formerly ApolloX, handled much than $23 cardinal successful perpetual futures trades, much than treble Hyperliquid’s $10 cardinal connected the aforesaid day.

Despite the surge, Hyperliquid still leads connected a monthly basis, signaling astir $300 cardinal successful transactions implicit the past 30 days compared with Aster’s $48 billion.

The trading burst fueled a crisp emergence successful Aster’s token, which climbed to a caller precocious of $2.40 and pushed its afloat diluted valuation to astir $20 billion.

Total worth locked connected the level besides spiked, jumping from $366 cardinal a week agone to $1.78 billion, a summation of astir 400%.

Aster has defied caller marketplace movements to go 1 of the best-performing assets implicit the past week. The level has drawn important involvement aft Binance laminitis Changpeng ‘CZ’ Zhao expressed strong enactment connected societal media.

Stablecoin maturation and L1

Aster has besides expanded the proviso of its USDF stablecoin, issued with custody enactment from Ceffu.

Messari information shows the proviso grew 4x successful size to 262 cardinal tokens implicit the past week, and if the gait holds, the fig could scope $1 cardinal soon.

Meanwhile, the platform’s regular gross surged to $9 cardinal connected Sept. 24, ranking it up of Circle and 2nd lone to Tether.

In a caller interview, Aster CEO Leonard said Aster is moving interior tests for a proprietary Layer 1 blockchain, moving beyond its archetypal operation that relied connected aggregate networks.

The developments travel amid an industry-wide roar successful perpetual futures trading. In August, on-chain derivatives measurement totaled $765 billion, surpassing the full marketplace throughput recorded successful 2023.

The station Aster continues meteoric emergence to quality highs, USDF grows 4x successful a week appeared archetypal connected CryptoSlate.