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DUBAI, UAE, Sept. 24, 2025 /PRNewswire/ -- Bybit, the world's second-largest cryptocurrency exchange by trading volume, has released its latest Bybit Crypto Insights report, analyzing the growth of decentralized perpetual exchanges and how Aster has emerged as a competitor to Hyperliquid.
Bybit has entered the onchain DEX race with Byreal, a Solana-based decentralized exchange now in beta and set for mainnet in early October. According to DefiLlama, Byreal has recorded more than $335.41M in cumulative trading volume since its beta launch, with daily volume peaking at $28.15M. TVL reached a high of $14.22M. Byreal uses hybrid liquidity models, including RFQ and CLMM mechanisms, to reduce slippage and curb MEV.
The Rise of Aster
Aster was formed from the merger of Astherus and ApolloX and launched in September with a token that surged more than 300 percent in hours. The ASTER token reached a $1.33 billion market cap within two days. Aster's features include MEV-free execution, hidden orders and dual trading interfaces designed for both retail and professional users. Plans for a zero-knowledge-powered chain and integration with the Binance ecosystem have strengthened its early positioning.
How Aster stacks up against Hyperliquid
Hyperliquid remains the leading decentralized perp DEX, recording about $200 billion in September trading volume compared with Aster's $20 billion. Its market capitalization is estimated at $13.2 billion, while Aster's is about $2.5 billion.
The two platforms reflect contrasting strategies. Hyperliquid built its own Layer 1 infrastructure with HyperBFT consensus and sub-second finality, delivering centralized exchange-like execution entirely on chain. Aster was mainly launched on BNB Chain with a modular design and emphasizes ecosystem integration, branding and token-driven growth.
How is Hyperliquid different from dYdX/GMX?
Legacy platforms such as dYdX and GMX emphasize decentralization as a core principle. By comparison, newer players like Hyperliquid and Aster prioritize speed, liquidity and user experience. Both sacrifice a degree of decentralization in favor of performance.
Hyperliquid and beyond
Bybit's report notes that ideals such as trustlessness and community governance are taking a back seat to execution and user experience. Hyperliquid has long been the sector's benchmark, having developed a blockchain optimized for trading, with fully on-chain matching and sub-second settlement.
Aster, however, has gained visibility not by building new infrastructure but by capturing attention through narrative, exchange backing and incentives. Its rapid rise illustrates how token launches, partnerships and endorsements can shift market dynamics.
The road ahead
The report concludes that decentralized perpetual DEXs are evolving into a model where decentralization is treated as a feature rather than a foundation. With centralized exchanges capable of launching their own versions, competition is expected to increase.
Hyperliquid, once seen as untouchable, now faces an existential challenge. Its infrastructure remains strong, but the market increasingly rewards storytelling, ecosystem incentives and cultural resonance alongside technical performance.
Read more about Aster's emergence, Hyperliquid's position and the evolving landscape of decentralized perpetual exchanges in the Bybit Crypto Insights Report: The rise of decentralized perp DEXs: How Aster matches Hyperliquid.
#Bybit / #TheCryptoArk /#BybitResearch
About Bybit
Bybit is the world's second-largest cryptocurrency exchange by trading volume, serving a global community of over 70 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: media@bybit.com
For updates, please follow: Bybit's Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
DUBAI, UAE, Sept. 24, 2025 /PRNewswire/ -- Bybit, the world's second-largest cryptocurrency exchange by trading volume, has released its latest Bybit Crypto Insights report, analyzing the growth of decentralized perpetual exchanges and how Aster has emerged as a competitor to Hyperliquid.
Bybit has entered the onchain DEX race with Byreal, a Solana-based decentralized exchange now in beta and set for mainnet in early October. According to DefiLlama, Byreal has recorded more than $335.41M in cumulative trading volume since its beta launch, with daily volume peaking at $28.15M. TVL reached a high of $14.22M. Byreal uses hybrid liquidity models, including RFQ and CLMM mechanisms, to reduce slippage and curb MEV.
The Rise of Aster
Aster was formed from the merger of Astherus and ApolloX and launched in September with a token that surged more than 300 percent in hours. The ASTER token reached a $1.33 billion market cap within two days. Aster's features include MEV-free execution, hidden orders and dual trading interfaces designed for both retail and professional users. Plans for a zero-knowledge-powered chain and integration with the Binance ecosystem have strengthened its early positioning.
How Aster stacks up against Hyperliquid
Hyperliquid remains the leading decentralized perp DEX, recording about $200 billion in September trading volume compared with Aster's $20 billion. Its market capitalization is estimated at $13.2 billion, while Aster's is about $2.5 billion.
The two platforms reflect contrasting strategies. Hyperliquid built its own Layer 1 infrastructure with HyperBFT consensus and sub-second finality, delivering centralized exchange-like execution entirely on chain. Aster was mainly launched on BNB Chain with a modular design and emphasizes ecosystem integration, branding and token-driven growth.
How is Hyperliquid different from dYdX/GMX?
Legacy platforms such as dYdX and GMX emphasize decentralization as a core principle. By comparison, newer players like Hyperliquid and Aster prioritize speed, liquidity and user experience. Both sacrifice a degree of decentralization in favor of performance.
Hyperliquid and beyond
Bybit's report notes that ideals such as trustlessness and community governance are taking a back seat to execution and user experience. Hyperliquid has long been the sector's benchmark, having developed a blockchain optimized for trading, with fully on-chain matching and sub-second settlement.
Aster, however, has gained visibility not by building new infrastructure but by capturing attention through narrative, exchange backing and incentives. Its rapid rise illustrates how token launches, partnerships and endorsements can shift market dynamics.
The road ahead
The report concludes that decentralized perpetual DEXs are evolving into a model where decentralization is treated as a feature rather than a foundation. With centralized exchanges capable of launching their own versions, competition is expected to increase.
Hyperliquid, once seen as untouchable, now faces an existential challenge. Its infrastructure remains strong, but the market increasingly rewards storytelling, ecosystem incentives and cultural resonance alongside technical performance.
Read more about Aster's emergence, Hyperliquid's position and the evolving landscape of decentralized perpetual exchanges in the Bybit Crypto Insights Report: The rise of decentralized perp DEXs: How Aster matches Hyperliquid.
#Bybit / #TheCryptoArk /#BybitResearch
About Bybit
Bybit is the world's second-largest cryptocurrency exchange by trading volume, serving a global community of over 70 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: media@bybit.com
For updates, please follow: Bybit's Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Bybit Crypto Insights Report: Aster Takes on Hyperliquid in the Perp DEX Boom
BENGALURU, India, Dec. 10, 2025 /PRNewswire/ -- Exito's presence in ASEAN isn't an overnight story. It's the result of fifteen years spent building one of the most reliable, productive, and commercially impactful event ecosystems in the B2B technology space.
Since its inception, Exito has delivered more than 1,000 events across 25+ countries, connecting over 200,000 attendees and linking technology vendors, enterprises, and government leaders in ways that move markets. This long-standing global experience is exactly what laid the foundation for Exito's accelerated success across ASEAN in the past five years.
And here's the thing: the region's digital transformation wave isn't slowing down. Enterprises are modernising faster, governments are driving strong digital-first mandates, and vendors are competing to capture the next big cycle of demand across AI, cybersecurity, cloud, automation, fintech, DevOps, and enterprise IT. In this surge, Exito has become the trusted neutral ground where serious conversations turn into partnerships, pilots, and real commercial outcomes.
A Five-Year ASEAN Story Fueled by Momentum
Over the past half-decade, Exito has delivered 100+ high-impact exhibitions, conferences, and trade shows across ASEAN, shaping the region's B2B tech ecosystem with remarkable consistency. Across Singapore, Kuala Lumpur, Jakarta, Manila, Bangkok, and Hanoi, Exito's platforms have emerged as the meeting point for senior IT leaders, digital strategists, regulators, and global technology providers.
The impact has been direct and measurable:
- Vendors have accelerated regional entry and expanded their pipelines.
- Enterprises have found faster access to credible solution partners.
- Government bodies have used Exito platforms to push national digital blueprints and innovation agendas.
This isn't about event volume. It's about market creation.
2025: A Breakout Year That Proved the Model
2025 set a new benchmark for Exito in ASEAN. Packed auditoriums, exponential B2B meeting numbers, and a record count of returning sponsors reinforced one thing:
The region sees Exito as a high-trust, outcomes-driven partner.
From Manila and Bangkok to Jakarta and Kuala Lumpur, the response validated the model, curated events, clear buyer–vendor alignment, senior-level participation, and content formats that reflect real market needs.
2026 now builds on this momentum at a larger, sharper scale.
The 2026 ASEAN & APAC Calendar: A Year Designed for Impact
The 2026 lineup reflects a dual focus: sector-specific depth and wider geographic reach. Across digital transformation, BFSI, cybersecurity, DevOps, manufacturing IT, and cloud adoption, Exito is doubling down on themes where enterprises are investing the most.
February – Mumbai
- 4 Feb – Digital Transformation Summit
March – Bangkok & Manila
- 11 Mar – MITS IT Summit, Bangkok
- 27 Mar – Cyber Security Summit, Manila
April – Australia, Indonesia, Malaysia & Singapore
- 14 Apr – Cyber Security Summit, Sydney
- 15 Apr – BFSI IT Summit, Sydney
- 16 Apr – BFSI IT Summit, Jakarta
- 23 Apr – Digital Transformation Summit, Kuala Lumpur
- 29 Apr – Exito DevOps Summit, Singapore
May – Manila & Bangkok
- 21 May – Digital Transformation Summit, Manila
- 22 May – BFSI IT Summit, Manila
- 29 May – Cyber Security Summit, Bangkok
June – India
- 11 Jun – MITS IT Summit, Mumbai
July – Vietnam
- 15 Jul – Cyber Vietnam (34th Edition), Hanoi
August – India & Singapore
- 6 Aug – BFSI IT Summit, Mumbai
- 13 Aug – BFSI IT Summit, Singapore
September – Malaysia
- 10 Sep – Cyber Security Summit, Kuala Lumpur
October – Indonesia & Thailand
- 14–15 Oct – Digital Transformation Summit, Jakarta
- 28 Oct – Digital Transformation Summit, Bangkok
- 29 Oct – BFSI IT Summit, Bangkok
This calendar mirrors both market demand and Exito's commitment to serving the region with depth, consistency, and serious audience quality.
Why ASEAN Chooses Exito
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- 1,000+ global events.
- 25+ countries.
- 200,000+ attendees.
- Fifteen years of doing what works: delivering value for sponsors and clarity for delegates.
Looking Forward: The Next Phase of Growth
ASEAN is entering a defining decade of technology investment. AI integration, cloud modernisation, national digital blueprints, cyber resilience, and sector-wide automation are no longer future plans, they're now.
Exito's next chapter is built around this reality.
With a powerful 2026 calendar, deeper regional collaborations, and an unwavering focus on business outcomes, Exito is doubling down on its mission:
to be the region's most trusted and consistently high-performing platform for technology growth.
The momentum is real.
The region is ready.
And Exito's next five years in ASEAN will be even bigger than the last fifteen worldwide.
PR Newswire is the Official Press Release Distribution Partner of Exito.
For more information, partnership enquiries, or speaking opportunities, please contact: Sanpriya Mohanty – enquiry@exito-e.com
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Exito's Rising Power in ASEAN: Five Years of Regional Impact Backed by a 15-Year Global Legacy
