- Aster’s daily futures volume of $11.8 billion eclipses Hyperliquid’s $9.9 billion.
- Market sentiment is turning optimistic as activity picks up across multiple networks.
- Dogecoin is poised for a breakout amid ETF-related optimism.
Digital tokens showed signs of recovery today following Monday’s declines.
The global cryptocurrency market capitalization is steady around $3.9 trillion, up about 0.15% over the past 24 hours.
Aster challenges Hyperliquid’s market share
The perpetual futures sector has been in the spotlight recently as traders seek high leverage exposure.
While Hyperliquid dominated attention in recent weeks, Aster has drawn increased interest after support from Changpeng Zhao.
The decentralized exchange reached a milestone today, registering over $11 billion in perpetual volume in the last 24 hours.
No. 1 in perp DEX trading volume during the past 24 hours with over $11+ billion on Aster. 👀
ASTER MODE. pic.twitter.com/gjPAtE7AJF
— Aster (@Aster_DEX) September 23, 2025
This pushed Aster past Hyperliquid, which recorded $9.9 billion in the same period.
It is the first time Aster has overtaken Hyperliquid in daily volume, signaling heightened trader interest in the relatively new DEX.
Aster’s massive volume suggests a shift in liquidity that could reshape competition among leading decentralized exchanges.
Alongside endorsement from the Binance founder, adoption by prominent traders and increased liquidity rewards are fueling Aster’s rise.
Trading incentives and cross-chain features appear to have boosted activity on the DEX.
Meanwhile, other futures platforms are witnessing a resurgence in engagement.
Lighter reported $6.89 billion in daily volume, while edgeX posted $5.06 billion.
These figures reflect a broader trend of increased participation in derivative instruments.
Native ASTER has surged, gaining more than 40% in the last 24 hours to reach $2.05 and new intraday highs.
The token has climbed over 2,000% on its monthly chart.
By contrast, Hyperliquid is experiencing a cooling momentum as it relinquishes key figures.
Weakness intensified after BitMEX co-founder Arthur Hayes sold his HYPE tokens over the weekend, citing imminent selling pressure linked to token unlocks.
Hayes’ move drew attention because it came less than a month after he publicly forecasted a potential 126x increase for Hyperliquid’s token.
Dogecoin set for a comeback
The original meme coin remains on traders’ radar amid optimistic developments.
Dogecoin is buzzing as ETF-related progress advances.
21Shares’ spot Dogecoin ETF ticker (TDOG) now appears on DTCC (Depository Trust and Clearing Corporation) listings.
A Spot Dogecoin ETF from 21Shares has appeared on the DTCC listings under ticker TDOGhttps://t.co/okr0WirVaw pic.twitter.com/0wdLJkGoXs
— ICO Drops (@ICODrops) September 23, 2025
While that listing does not mean SEC approval, it is an important step toward a potential launch.
Analysts have been focusing on DOGE price charts amid growing ETF talk.
The meme token trades around $0.2400 after a modest pullback over the last 24 hours.
Popular analyst @Ali_Chart highlights $0.50 as a critical target for Dogecoin if steady recoveries continue.
If achieved, that level would imply a gain of more than 100% from DOGE’s current market price.
However, bulls need to clear the nearest resistance at $0.28 to sustain meaningful upside momentum.
A successful ETF listing and broader market gains would likely accelerate Dogecoin’s rally potential.