Aster shrinks 33,500% in open interest, leading hyperliquid in the sun -day volume

Aster, a decentralized perpetuals exchange in the BNB chain, has seen open interest that progresses nearly 33,500% less than a week, challenging its highest rival, hyperliquid.

On Wednesday, coinglass data shown The open interest of that Aster jumped from $ 3.72 million on Friday to $ 1.25 billion at the time of writing. The spike in active contracts has signed that traders are stacked on the platform, challenging its largest competitor, hyperliquid.

Open interest Refers to the total number of remaining contracts that have not been fixed. It is used as a major measure to measure liquidity and conviction in the market toward a project. Aster’s Open Interest Surge showed that traders are willing to deploy capital on the platform.

In addition to opening interest, Aster’s Total amount locked (TVL)Another key indicator in decentralized finances (DEFI), also increases. On Wednesday, Defillrama data shown TVL of that Aster is at $ 1.85 billion, an increase of 196% from $ 625 million Friday.

Aster passes hyperliquid in 24 -hour quantity

The defillama data too shown That aster led the day -to -day trade on Wednesday, with about $ 24.7 billion in the last 24 hours.

It puts a 24 -hour aster performance than its strongest competitor, Hyperliquid, which recorded only about $ 10 billion on Wednesday. Players such as Edgex and Lighter followed closely, with a sunny volume of $ 8.25 billion and $ 6.18 billion, respectively.

While the aster exceeds the high -day -to -day performance of hyperliquid volume, the Decentralized exchange (Dex) It still commands deeper liquidity for a longer period.

Hyperliquid remains at the top of the charts when it comes to seven days and 30 days of eternal volume. Last week, Hyperliquid recorded $ 66 billion and nearly $ 300 billion in the last 30 days.

Related: Machi Big Brother came out of $ 25M Hype Bet at $ 4M Loss as rivals ate Hyperliquid Market Share

CoinMarketCap and BNB Chain Support Push Aster on top

On Friday, a BNB chain spokesman Cointelegraph told that Aster received its support And that’s the Yzi Labs (formerly Binance Labs). This includes mentorship, exposure to ecosystem and accessing technical and marketing resources.

The Crypto Data Platform CoinMarketCap has also strengthened the Aster through the CMC launch program, a launchpad featuring new projects.

The CMC launch lead Jin Choo told Cointelegraph that the campaign to support Aster has developed significant exposure.

This includes 400 million homepage banner impressions, more than 3 million impressions on the tweet and a combined reaches of more than 5 million through newsletters, app notices and media ranges.

“The campaign also recorded more than 1.5 million views in full live events, 1.5 million clicking the landing page and more than 500,000 clicks on the Aster project page,” Choo added.

Binance CoinMarketCap obtained in April 2020 for an unspecified value. However, when asked if the Yzi Labs or Binance had a hand on the Aster selected for the launch of the CMC, Choo said no.

He told Cointelegraph that the project was only selected based on its merits, in accordance with the CMC launch qualification criteria, which included change, market potential, and community traction.

“Binance and CoinMarketCap are separate creatures with independent operation,” Choo told cointelegraph. “Binance has no control or influence on the way CoinMarketCap is governed and managed, including how we are conducting project promotions.”