3 hours ago
Aster, the decentralized perpetuals speech with backing from Binance laminitis Changpeng Zhao, generated much gross than Tether successful the past 24 hours.
According to DeFiLlama data, Aster ranked arsenic the highest revenue-generating protocol successful the past 24 hours, surpassing Tether and Circle, the 2 starring stablecoin issuers.
Over the past week, the speech recorded astir $93.5 cardinal successful interest revenue, which is 2nd lone to Tether’s $154.5 million. By comparison, Hyperliquid, agelong regarded arsenic the ascendant perpetuals exchange, reported conscionable $26.1 cardinal successful the aforesaid period.
Top 5 Crypto Revenue Generators successful the Last 24 Hours. (Source: DeFiLlama)The gross surge aligns with soaring trading activity. Aster processed astir $185 cardinal successful perpetuals trading volume implicit the past week, much than doubling Hyperliquid’s $80.5 billion.
This crisp summation reflects however rapidly traders are shifting liquidity toward the caller entrant, drawn by some its show and its positioning arsenic a large decentralized exchange.
Considering this, Zhao argued that Aster should beryllium seen arsenic competing straight with Binance alternatively than Hyperliquid.
While that positioning casts Aster arsenic a nonstop rival to the centralized exchange, Zhao added that its occurrence could inactive payment the BNB ecosystem.
Zhao’s connection astir Aster is not surprising, considering helium is an advisor to the task and his household office, YZi Labs, is an capitalist successful it. Additionally, Aster is relying connected the BNB Chain infrastructure for its operations.
In addition, the Binance laminitis has confirmed that immoderate of the centralized exchange’s ex-workers are portion of the Aster team.
ASTER token buyback?
Alongside its trading surge, speculation astir a imaginable token buyback has begun circulating crossed X and Discord.
Screenshots shared by respective influencers suggest the squad is considering repurchasing tokens from the unfastened market, a determination that could further energize bullish sentiment.
Token buybacks, already a increasing inclination successful the crypto space, reflector accepted firm stock repurchase programs. By buying backmost tokens, protocols awesome assurance successful their semipermanent worth portion creating scarcity that whitethorn thrust terms appreciation.
For Aster, specified a strategy would reenforce its caller rally, which has already seen its token soar much than 2,000% successful the past month.
The station Did a DEX conscionable bushed Tether connected gross for a day? Inside Aster’s $185B week appeared archetypal connected CryptoSlate.
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