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Aster, an emerging decentralized exchange on the Binance Smart Chain, has been flying lately, with its token jumping 47% over the last day and setting a new all-time high of $2.12 on Tuesday afternoon.
And predictors on Myriad, a prediction market developed by Decrypt’s parent company Dastan, believe there is a 45% chance Aster continues its charge and hits $4 by the end of October. That would nearly double its current price of $2.06.
Aster has generated $4.58 million in daily revenue, according to on-chain data collected by DefiLlama. That sees it surpass its chief rival Hyperliquid, which has generated just $2.82 million during the same span. That said, Aster remains behind in daily volume with $558.95 million, compared to Hyperliquid’s $783.52 million.
Aster is a decentralized exchange that specializes in perpetual futures, backed by Binance founder Changpeng “CZ” Zhao’s crypto investment firm YZi Labs. It has been viewed as $BNB Chain’s competitor to Hyperliquid, another DEX specializing in perpetual futures, which has been one of the biggest crypto projects of the year.
After a massive $1.6 billion airdrop in 2024, Hyperliquid started making headlines as whales used the exchange to place hugely leveraged bets for the world to see. For example, a whale opened a majorly leveraged Bitcoin short worth $521 million in March, which led to a group of investors attempting to liquidate the whale.
As a result of rising demand, Hyperliquid’s $HYPE token has surged to a $12.6 billion market cap as the 18th largest cryptocurrency in the world, according to CoinGecko. $HYPE is down more than 3% on the day and 13% this week amid the emergence of the hot, new $BNB rival. By comparison, Aster sits at a nearly $3.5 billion market cap and is the 50th largest token.
The arrival of Aster has flipped predictors on Myriad, who now believe it is more likely that $HYPE will hit $39 next before it touches $69—putting the chances at 61%. That’s a stark difference from just Friday, when predictors believed it to be 31% likely that $HYPE hits $39 first.