HYPE Under Pressure as ASTER Surges – Which One is Winning the Perp DEX Race?

The perpetual DEX (decentralized exchange) arena is heating up, and Hyperliquid’s dominance is now under serious threat. Aster (ASTER), a relative newcomer, has emerged as a major contender—fueled by a high-profile Binance listing and explosive trading volume. As ASTER rides this momentum, HYPE faces both technical and tokenomic headwinds that could further erode its market position.

Similar to crypto traders monitoring the shifts in market dominance, Outset PR watches the performance of crypto-native media outlets through the lens of its in-house Outset Data Pulse intelligence reporting to ensure campaigns align with momentum and fit the market context.

Aster’s Meteoric Rise Post-Binance Listing

On October 6, Binance listed Aster (ASTER) with USDT, USDC, and TRY pairs. The move instantly injected deep liquidity into the project, catalyzing a 53.86% jump in trading volume to $1.9 billion. ASTER now carries a “Seed Tag”—Binance’s way of flagging risky but promising tokens—yet no listing fee was charged, signaling the exchange’s confidence in the project.

Within just days, Aster’s weekly trading volume skyrocketed to over $2 billion.

Source: coingecko

ASTER recently broke out of a $1.80–$2.00 consolidation zone, forming a bullish pennant on the 4-hour chart.

Technical Snapshot:

• Price: $2.09 (↑15.49% in 24h)
• RSI (14): 65.32 – Nearing overbought, but still with upside room
• Support Zone: $1.80–$1.90
• Catalysts: Binance-driven liquidity, airdrop incentives, and technical breakout

HYPE Under Pressure: Token Unlocks and Technical Risks

Hyperliquid (HYPE) remains a powerhouse in the perp DEX niche, but it’s showing signs of stress. A major concern looms on the horizon: starting November 29, approximately 237.8 million HYPE tokens (24% of circulating supply) will begin unlocking monthly over a 24-month period. At current prices (~$48.41), that’s $500 million/month in potential sell pressure.

While Hyperliquid uses 97% of protocol fees for buybacks, this only offsets ~17% of the newly unlocked supply, leaving a $410 million/month gap in unabsorbed selling pressure. That imbalance could weigh heavily on HYPE’s price unless offset by new demand or accelerated fee growth.

Source: coinmarketcap

Technical Outlook:

• Current Price: $48.41
• MACD Histogram: +0.071 – Slightly bullish crossover
• RSI (14): 49.7 – Neutral zone
• Key Levels: Resistance is at $49.72 (50% Fibonacci retracement), while the support can be found at $47.44 (61.8% Fib), followed by $44.19

A decisive break above $49.72 could reinvigorate bullish sentiment, but failure to hold $47.44 might lead to a deeper retracement toward the $44 range.

How Outset PR Optimizes PR Budgets and Delivers Tangible Results

The purpose of any PR campaign is to boost brand visibility. Traditionally, this has meant securing as many publications as possible, often with unpredictable outcomes. It was difficult to know how many readers would actually see a story, leaving much of PR to guesswork.

Actually, it had been guesswork until analysts of Outset PR developed Syndication Map—a proprietary tool that identifies which outlets attract the most traffic and where a story is likely to achieve the strongest syndication lift. Senior Media Analyst Maximilian Fondé explains:

If a company needs a top list article, we filter the table for media that publish this format, cross-check costs and placement conditions, and know within minutes which outlets to pitch. Over time, that builds into a comprehensive database of crypto-friendly publishers – something other players in the industry don’t have right now.

Smarter Campaigns, Lower Costs

Campaigns built with Syndication Map are not about mass reach for its own sake. They are carefully crafted to serve specific goals. By narrowing the focus to the most effective outlets, Outset PR reduces unnecessary spending on low-impact publications.

Another key factor is communication. Outset PR’s dedicated Media Relations team, led by Anastasia Anisimova, has earned the trust of leading outlets through professionalism and genuine relationships.

Sincerity and friendliness are our core principles, earning us the trust of numerous media outlets. Unfortunately, not all agencies in our industry prioritize friendliness in their communications.

Extended Reach Through Syndication

Outset PR campaigns also achieve more visibility than clients initially pay for. Articles are frequently republished across aggregators and platforms such as CoinMarketCap and Binance Square, extending exposure far beyond the original placement. Well-placed articles can achieve up to ten times the outreach of the original post.

Outset PR Sets a New Standard

Pitching to a major outlet like Cointelegraph still has value, but syndication often delivers far greater reach at a lower cost. Outset PR has mastered this strategy, combining proprietary tools, strong media relations, and syndication opportunities to deliver results backed by numbers.

Outlook: Can HYPE Regain Its Edge?

Hyperliquid isn’t out of the game, but it’s in a challenging phase. The upcoming token unlocks will test the protocol’s tokenomics, while ASTER continues to benefit from structural tailwinds and hype cycles.

For HYPE to regain momentum, it must:

• Hold above critical support zones ($47.44 and $44.19)
• Increase protocol fee capture to better offset unlock dilution
• Reignite user and investor interest through new listings or incentive programs

Meanwhile, ASTER needs to sustain momentum without falling prey to speculative blow-off tops or regulatory scrutiny around volume manipulation.

Conclusion

Hyperliquid is at a crossroads. Aster’s entry has disrupted the status quo, and HYPE’s upcoming unlock schedule only adds pressure. While technical indicators offer a glimmer of hope for HYPE bulls, the imbalance between new supply and buyback demand is hard to ignore.

Outset PR, the only data-driven crypto PR agency, closely follows the market developments to craft the stories that match the current momentum.

You can find more information about Outset PR here:

Website: outsetpr.io

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Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.