HYPE token hits ATH near $60 as CZ highlights rival DEX Aster

Thursday, September 18, began with a sharp HYPE rally to nearly $60, and the CZ-mentioned Aster token gained over 350%.

The decentralized derivatives exchange Hyperliquid saw its native token HYPE climb 8% daily to a peak of $59.29. Aster's ASTER token, backed by former Binance affiliates, reached $0.50 shortly after Zhao shared its chart online.

Hyperliquid’s push into perpetual futures has taken its valuation to almost $16 billion – a 40 percent jump in a month. Daily trading volume sits around $790 million, versus Binance’s $34 billion. From an 11-person start-up, the platform has grown into a heavyweight: monthly volume broke $330 billion earlier this year.

Riding that momentum, July saw the launch of Aster Chain, a new-generation DEX chasing the same slice of the market. ASTER, the project’s token, debuted on 17 September with help from YZi Labs and PancakeSwap.

Its price has climbed 350 percent since launch, a rally that happened to align with a terse post from Zhao featuring nothing but the ASTER price chart. Even without commentary, the tweet sparked trader activity and set crypto forums alight.

The two exchanges sit squarely in the decentralized-derivatives sector, a rapidly expanding arena for broker-free, non-custodial trading of derivative assets. The surge in HYPE and ASTER token prices on multiple venues underscores a larger trend: capital is flowing toward decentralized alternatives.