Aster Overtakes Hyperliquid, Claims Top Spot in Perpetual DEX Trading Volume

Decentralized exchange (DEX) Aster has surged to the forefront of the perpetual futures market, surpassing the previous leader, Hyperliquid, with a remarkable $11.94 billion in 24-hour trading volume as of November 10, 2025, according to DefiLlama data.

Record Volume Driven by Retail-Friendly Design

Aster's explosive rise highlights a significant shift in decentralized trading trends, favoring platforms that cater aggressively to the retail audience:

• Influential Endorsement: A key factor in Aster's success was a strategic endorsement from former Binance CEO, Changpeng "CZ" Zhao.
• Retail Focus: CZ praised Aster's user-centric design, which offers highly aggressive features like 1001x leverage and opportunities for passive yield on collateral. These features directly align with current retail trader demand.
• Market Shift: As CZ noted, Aster's massive adoption proves that "retail-focused DEX design shifts market structure. High leverage and yield collateral are what users want now."

Market Response and Engagement

Aster’s success signals a broader industry acceptance of decentralized exchanges prioritizing user experience and enhanced collateral offerings. Following the volume record and CZ's comments, Aster's social media engagement has reportedly increased, reflecting a highly positive reception from traders and stakeholders.

The platform's new leadership position underscores how quickly market dynamics can change based on user-centric features and strategic, high-profile endorsements.

November 2025, Cryptoniteuae