- Aster, rebranded from ApolloX after merging with Astherus, surged 4650% in market cap after its token generation event.
- Binance founder CZ’s promotion on X fueled a rally from $0.08 to $0.79 in just two days.
- Onchain perpetuals trading volume hit $750B in August, cementing perps as the hottest trend in DeFi for 2025.
The perpetuals trading mania in DeFi just found its newest star. Aster, the rebranded successor to ApolloX, is stealing headlines as traders rush to capture the “next Hyperliquid” moment. Backed by a surprise endorsement from Binance founder Changpeng Zhao (CZ), Aster’s launch has triggered one of the fastest token re-ratings of 2025.
Aster Token’s Wild Debut
Originally launched in 2021 as ApolloX (APX), the project merged with Astherus in late 2024 and officially rebranded as Aster this week. APX holders converted their tokens into ASTER during yesterday’s token generation event (TGE).
The timing couldn’t have been better. CZ took to X to promote the launch, sending demand into overdrive. APX’s market cap jumped from just $40 million on Sept. 16 to ASTER’s staggering $1.32 billion valuation within 48 hours. Prices opened at $0.08 and peaked at $0.79 today—a jaw-dropping 875% spike in a single session.
Perpetuals Sector on Fire
Aster’s breakout comes as the broader perpetuals trading market reaches record levels. Lighter, another fast-growing onchain perps exchange, saw its TVL climb 38% in two weeks to $485 million. The platform processed $112 billion in volume over the last month, making it second only to Hyperliquid’s $335 billion.
Overall, onchain perps trading volume hit $750 billion in August, already surpassing the total annual volume for all protocols in 2023. Traders burned out on old narratives like ICOs, NFTs, and memecoins appear to be funneling their energy—and leverage—into decentralized perpetuals instead.
Final Thoughts
Aster’s sudden rise highlights just how fast the perpetuals sector is evolving. With Hyperliquid setting the tone and new entrants like Lighter and Aster grabbing market share, onchain derivatives look poised to be the “meta” of this cycle. Whether ASTER can sustain its $1.32 billion valuation or faces the usual post-hype correction is anyone’s guess—but right now, momentum is firmly on its side.
