.png){kind=small}
What is Aster Crypto?
Aster crypto went from $40 million to $3 billion in 48 hours. That's not normal, even for crypto. Here's what you need to know about this new Aster DEX that everyone's suddenly talking about.
Key Takeaways
- Aster coin surged 1,900% in five days after launching, pushing Aster market cap past $3 billion
- The Aster perp platform lets traders use up to 1001x leverage
- ASTER/USDT trades across multiple chains without bridging hassles
- Backed by CZ and competing directly with HYPE (Hyperliquid)
- Planning their own Layer 1 blockchain for Q4 2025
What actually is Aster?
Aster crypto used to be called ApolloX. Nobody cared about it. Then they merged with another project called Astherus in late 2024, rebranded to Aster, and suddenly everyone's talking about it.
APX's market cap jumped from just $40 million on Sept. 16 to ASTER's staggering $1.32 billion valuation within 48 hours. That kind of move doesn't happen naturally.
The Aster DEX is basically a decentralized Binance for derivatives. You can trade Bitcoin perpetuals with insane leverage, plus you can trade stocks like Tesla and Apple 24/7, all settled in crypto.
.jpg)
Why It's Pumping
CZ tweeted about it. That's literally the main reason. When the Binance founder promotes something, degens pile in. The ASTER/USDT pair went vertical, hitting $1.97 from $0.03 in five days
But there's more to it. The platform actually works well. $519B in total trading volume isn't nothing. They have 1.7 million users and process about $100 million daily.
Aster vs HYPE
Everyone's comparing Aster crypto to Hyperliquid because they're both perpetual DEXs. HYPE is worth $15-20 billion, so if Aster coin catches up, there's serious upside.
Aster's edge:
- Works on multiple chains (BNB, Ethereum, Arbitrum, Solana)
- Hidden orders so whales can't see your trades
- You can use yield-bearing tokens as collateral
HYPE's advantage:
- They were first
- More liquidity
- Less sketchy token distribution
The 1001x Leverage Thing
Yes, you can actually trade with 1001x leverage on Aster perp. Traders can use leverage as high as 1001x on BTCUSD, placing Aster among the few protocols in DeFi that offer such extreme exposure.
This is absolutely insane and you will get liquidated. But it exists, and degens love it.
The Big Problem
Here's the issue: 88% of Aster coin supply is owned by 4 wallets. That's not decentralization, that's a disaster waiting to happen. When those wallets decide to sell, the Aster market cap will crater.
Also, the pump was too fast. The Aster price has surged 1900% in just five days, going live at $0.10 on September 17 and reaching a new all-time high of $21.97 on Sunday. Nothing real grows that quickly.
What's Next?
They're launching their own blockchain in Q4 2025 with "zero-knowledge proofs for private trading." Sounds fancy. Aster's roadmap includes the launch of Aster Chain, a purpose-built Layer 1 blockchain designed for high-performance, privacy-focused derivatives trading.
Price predictions are all over the place. Some say $2 by year-end, others say $10. The token could hit an average price of $1.383 in 2025, with a peak target of $2.074. Who knows.
Should You Buy?
Look, the Aster DEX has real features. Multi-chain trading is smart. Stock perpetuals are useful. The platform works.
But ASTER/USDT is a casino right now. The token concentration means a few people control the price. The CZ pump won't last forever. And HYPE isn't going to roll over and die.
If you're trading it, you're gambling. The tech is interesting but the tokenomics are terrible. Maybe it becomes huge, maybe it dumps 90% next week. That's crypto.
The Aster perp platform might survive even if the token doesn't. But right now, this feels more like a trade than an investment. Don't bet money you can't lose.
Learn more about Backpack
Exchange | Wallet | Twitter | Discord
Disclaimer: This content is presented to you on an “as is” basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial, legal or other professional advice, nor is it intended to recommend the purchase of any specific product or service. You should seek your own advice from appropriate professional advisors. Where the article is contributed by a third party contributor, please note that those views expressed belong to the third party contributor, and do not necessarily reflect those of Backpack. Please read our full disclaimer for further details. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Backpack is not liable for any losses you may incur. This material should not be construed as financial, legal or other professional advice.
