Next 10x-50x Potential Altcoins – Hyperliquid Vs Aster Dex

The perp DEX space is booming. They are revolutionizing crypto trading. However, they are not all created equal. So, how do you pick the right one? In this video, I break down four leading perp DEXes, each with a game-changing feature that sets it apart. These platforms are also rewriting the rules, each in its own unique way. They are more than just exchanges; they’re innovation hubs.

f you’re serious about decentralized trading, you need to understand what makes each of these unique. This video clarifies the landscape and shows you which DEX can truly change the game. This isn’t just info; it’s your edge in the crypto market. Here are Aster, Hyperliquid and two more per DEXes.

What Is a Perp DEX?

Perp DEXes are Decentralized Exchanges. You trade in Perpetual Futures Contracts. So, with perps, you don’t own the underlying asset. So, you trade in derivatives, which track the price of an asset. 

A perp contract doesn’t have an expiration date. You speculate on price movements of an asset. You can do this with leverage. So, you can hold a position indefinitely on a perp DEX. However, only as long as you maintain the required margin. 

Hyperliquid ($HYPE)

Hyperliquid ($HYPE) is currently the leading perps DEX in crypto. The moment the $HYPE token hit the market in November 2024, it went parabolic. In less than a month, it went from $3.81 to $32.41. That’s almost a 10x. Part of this fast rise is for a unique reason. Hyperliquid didn’t have any funding. It is self-funded. So, there are no VCs that can dump tokens on you. 

Another reason was a unique airdrop. Recipients of this airdrop made up to 5, 6, or even 7 figures. And, most importantly, they held on to their airdrop. They didn’t sell.

Furthermore, Hyperliquid is built from the ground up as a Layer 1 chain. It uses $USDC for trading on the platform. You can only deposit $USDC by using native Arbitrum $USDC. So, you need to use Arbitrum to deposit directly. You can also bridge from other networks using bridges.

Source: Hyperliquid Gitbook

Hyperliquid is also fast, it can handle over 200,000 TPS or transactions per second. In other words, transactions are almost instant. The platform offers up to 50x leverage. And as a good perps DEX should, it uses a CLOB or Central Limit Order Book. This is something that also most global exchanges use. 

The current $HYPE price is $48.15. It has a market cap of almost $13 billion. Out of the 1 billion $HYPE tokens, only 270 million circulate. In late September, $HYPE will see its first token unlock. Something to keep an eye out for. Check out my deep dive video into Hyperliquid.

Bluefin ($BLUE)

Bluefin ($BLUE) is the leading DeFi platform on Sui. It offers, among others, Perps- and Spot trading, and also Lending. However, it is the leading perps DEX on Sui with a 97% market share. One unique aspect of Bluefin is its hybrid architecture. 

You get the best of on-chain and off-chain trading in one place. You get the speed and liquidity of an off-chain order book (a CLOB). At the same time, it also uses a matching engine. This engine offers the security and transparency of on-chain settlement. 

This hybrid model minimizes latency. Latency is the time delay between placing an order and it being filled. Thus, Bluefin offers a CEX-like trading experience.  However, you maintain custody and have all the decentralization benefits. The best of both.

Bluefin’s numbers are also impressive. It has,

• $222 million TVL as ATH
• $79 billion all-time volume 
• 10K+ DAU (daily active users)
• $37 million annualized fees
• $12.5 million in annualized revenues
• 2.2 million unique wallets
  

So, since the $BLUE token TGE, it added $200 million of TVL, 4x’d its fees, launched an AMM, RFQ, lending and a new version of Perps. RFQ is request for quote trading. This is for institutional and high-net-worth traders. This allows them to place large and complex crypto derivative trades, without using an orderbook.

The team is backed by Polychain, Alliance Dao, and Wall Street giants. These include, among others, SIG, Tower Research, Brevan Howard, and Cumberland DRW.

The current $BLUE token price is 10 cents, 25 % up on the day. Its market cap is $31.5 million. On October 1st, Bluefin will start a buyback of some platform profits.

Aster DEX ($ASTER)

The Aster DEX ($ASTER) is the new, hot kid on the perps block. Its $ASTER token has only launched a week ago, on 17th September. It immediately went parabolic, after, among others, backing by CZ on X. The sole financial backer is YZi Labs. This is, in turn, closely connected to CZ. Here’s a sign-up link for Aster DEX.

This brings me to the purpose of Aster. That’s to gain market share from Hyperliquid. Hyperliquid’s market share isn’t sitting too well with either Binance or CZ. Hence, they built their own perps DEX, Aster.

You may want to check my recent deep dive video into Aster. In it, I explain that Aster has a ‘Hidden Order‘ option in its free Pro Mode. All your perps orders remain completely invisible until they are filled. This is a unique feature on perp DEXes. Furthermore, Aster also uses a CLOB. Like the previous two perps DEXes I talked about.

Source: X

So, besides the Pro Mode, Aster also offers a Simple Mode. However, don’t let that name fool you. This feature offers up to 1001 leverage. A very fast way to get rekt. In contrast to the CLOB of the Pro Mode, the Simple Mode uses an AMM. That’s an Automated Market maker. It’s noteworthy that Aster offers some of the lowest maker and taker fees in the business.

The current $ASTER price is $1.71. That’s a good 6.5% up on the day. Its market cap is $2.8 billion. With $HYPE’s market cap, $ASTER can go to $9.

Paradyze ($P)

My last pick of the day is Paradyze. This is a perps DEX on Injective that should launch this week, possibly even today. However, that will be in testnet. 

What sets this perps DEX apart is that AI powers it. This means that you don’t need to place the actual trades. Instead, you talk to the AI Cockpit and tell it what to do. From there on, AI takes over and deals with all your trades.

Paradyze will have its own $P token, that will launch during the end of Q3 or during Q4. There’s an airdrop for the $P token, that you can farm in different ways. For example, 

• Be active on their Discord and take part in X raids. You can also collect daily points by just checking in daily. 
• Get a Paradyze vault on Talis. This will increase your airdrop and daily points on Discord.
• Post on X about Paradyze and earn extra bonuses.

Source: Talis

If the $P token will get anywhere the traction of what $ASTER and $HYPE showed, this might be a hidden gem. Paradyze will start out on Injective and Hyperliquid. However, multichain plans are in the pipeline.

So, these are my four picks for perps DEXes. The two top contenders in this category. There’s also the top perps DEX on Sui and a hidden gem that is about to be launched. Which one is your favorite of these 4? Or, in case I missed your fave perp DEX, let me know in the comments. Do join our social media outlets on X and Discord as well.

Disclaimer

The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers, and their risk tolerance may be different from yours.

We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments, so please do your due diligence. This article has been sponsored by Sui.

Copyright Altcoin Buzz Pte Ltd.