Aster Price Explodes as CZ Tweets ‘Astober’, Are DEX Coins the Best Cryptos to Buy Now?
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It feels like crypto is finally starting to live up to its potential. Bitcoin is gaining prominence alongside gold as a legitimate means to address fiscal concerns, while state-of-the-art decentralized finance (DeFi) platforms are surpassing their centralized counterparts.
One area where this is unmistakably clear is with perpetual futures decentralized exchanges (perp DEXes). The trading volume on these DEXes has skyrocketed since August, and one of the industry’s most influential figures has voiced his top pick.
Binance co-founder Changpeng “CZ” Zhao has backed BSC-based perp DEX Aster for gains, even going as far as to coin the term “Astober” in a recent post on X. However, shortly after his tweet, critics stepped in and raised concerns about the project’s on-chain metrics.
Nevertheless, interest surrounding perp DEXes is exploding – so are some projects in this sector the best cryptos to buy now? And if so, will market leaders like Hyperliquid and Aster continue to dominate, or will a new alternative, such as Best Wallet Token, catch up? Let’s dig deeper and explore what’s going on.
Perp DEX Wars: $1 Trillion in Monthly Volume Reported in August
One of the most notable aspects of the perp DEX market is its rapidly increasing on-chain activity. According to a report by The Block, the market reached a $1 trillion trading volume in September, marking a 48% increase from August.
There are three projects fiercely competing for market share: Aster, Hyperliquid, and Lighter. While Ligher currently does not have a native token, traders are actively speculating on which project will win the perp DEX wars through HYPE and ASTR.
Interestingly, HYPE has experienced a 1.4% decline in valuation over the last month, while ASTR has surged by over 2,000%. This reflects a shifting dynamic as Hyperliquid loses market share to other platforms after effectively enjoying a monopoly earlier this year.
Currently, ASTR has a market capitalization of $3.3 billion, and the token has generated $2.2 billion in 24-hour trading volume, representing an 80% increase from the previous day. In the same window, its price has increased by 4.5%. Everything else aside, this clearly indicates a strong interest in the token among investors.
The Aster DEX reportedly clocked $420 billion in trading volume in September, while Hyperliquid generated $282 billion. However, HYPE’s market capitalization exceeds $13 billion, indicating that there is still significant potential for ASTR.
CZ Calls For Astober – But Critics Raise Concerns
Judging by ASTR’s rising price, it makes perfect sense why CZ is calling for the project to generate gains this month.
In a post on X earlier this week, CZ wrote, “Bntober, Astober, Bitober,” signaling that he believed BNB, Aster, and Bitcoin could outperform this month. Both BNB and Bitcoin have reached all-time highs in the last 24 hours, while ASTR is 18% below its record high set in September.
The Binance co-founder also highlighted that Aster offers a competitive advantage in that it provides lower per-trade fees than Hyperliquid.
That said, it’s definitely not smooth sailing for the project right now – it was recently delisted from DeFiLlama after the data aggregator’s founder raised concerns about potential wash trading.
Ultimately, this creates a unique dynamic. Hyperliquid has already realized substantial gains, and Aster’s rise proves that investors are eager for the next perp DEX opportunity. However, these new allegations suggest that ASTR may warrant significant risk, especially at its current elevated price level, with a monthly gain of over 2,000%.
This raises the question: What’s the best play in the perp DEX space? Some experts are backing Best Wallet Token to explode – let’s explore why.
Best Wallet Token Tipped for 100x Gains by Top Analyst
Best Wallet Token is more than just a DEX coin; it powers an entire ecosystem. Best Wallet is a multichain crypto wallet app supporting over 60 blockchains, including Bitcoin, Ethereum, Solana, XRP, and Cardano. It features a cross-chain DEX that enables seamless end-to-end swaps without relying on centralized intermediaries.
This added interoperability provides a unique edge for its futures trading platform, reducing liquidity fragmentation and making it one of the few places outside centralized platforms, such as Binance, where liquidity from across the industry comes together.
But this is only part of what Best Wallet offers. It also includes features like a staking aggregator, a presale aggregator, a crypto debit card with up to 8% cashback, an NFT gallery, and much more.
At the heart of this ecosystem is the Best Wallet Token, which grants trading fee discounts, higher staking yields, governance rights, and access to promotions on partner projects. This combination of token utility and a market-leading use case has led to promising predictions for BEST, with Crypto June recently calling it the next 100x crypto.
The main reason he believes such explosive gains are possible is that BEST is currently in a presale, allowing investors to purchase from the outset.
So far, the presale has raised over $16 million, demonstrating strong demand from early investors. However, given the multi-billion-dollar valuations of top-performing DEX tokens, there remains significant upside potential for once BEST hits exchanges.
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