Hyperliquid vs 
Aster
Two contenders in on-chain perpetual futures, the fastest-growing category in decentralised trading. Hyperliquid runs its own purpose-built chain with a genuine on-chain order book and has captured most of the volume so far; Aster is a newer, well-backed challenger. Both let you trade leverage without a centralised exchange holding your funds. Both carry the risk that comes with leverage, which liquidates positions faster than any spot holding can fall.
12 months, both starting at 100 (AUD)
HYPE → 150 · ASTER → 102| Measure | HYPE | ASTER |
|---|---|---|
| Market cap | A$29.7B | A$2.7B |
| Rank | #11 | #50 |
| Price | A$133.41 | A$0.9824 |
| 90-day change (AUD) | +43.9% | +10.3% |
| 12-month change (AUD) | +85.8% | −60.3% |
| From all-time high | −3.3% | −73.1% |
| Supply model | Capped: 1.00B max | Capped: 8.00B max |
| AU exchanges we verify it on | 3 | 3 |
About Hyperliquid
Hyperliquid is a decentralised derivatives exchange running on its own purpose-built blockchain, known for order-book perpetual futures trading without a central operator. HYPE is its native token, used for fees and staking within that ecosystem.
FAQ
Which is bigger, Hyperliquid or Aster?
By market value today: Hyperliquid (A$29.7B vs A$2.7B). Size measures money invested, not quality — but it does measure liquidity, which affects how easily you can buy and sell.
Which performed better this year?
Over the past 12 months in AUD terms: HYPE +85.8%, ASTER −60.3% — the chart above shows the whole path, which matters more than the endpoints. Past performance is no indicator of future results, in either direction.
Can I buy both in Australia?
Yes — both are listed on AUSTRAC-registered exchanges we verify. HYPE appears on 3 of our reviewed platforms and ASTER on 3. Compare costs first on the fee calculator, and remember every crypto-to-crypto swap between them is a CGT event.
Should I hold HYPE or ASTER?
That's a personal decision we don't make for you — this page exists to make the structural differences clear so the choice is yours. What we'd say to anyone: understand what job each coin is designed for, size positions like the risk is real, and check the honest failure statistics before going further down the market-cap list.
Data from our market records (powered by CoinGecko), refreshed with the daily rebuild. General information only, not financial advice — we compare structure and history, we don't pick winners.