Aster price

Original title: Hyperliquid's HYPE Slumps as Attention and Capital Rotate to New DEX Tokens & HYPE's Damocles Sword Original author: Akash Girimath &@MaelstromFund Original compilation: Ismay, BlockBeats Editor's note: The potential selling pressure brought about by the unlocking of HYPE has become one of the risks that the market is most concerned about. Research institutions such as Maelstrom estimate that the current buyback size can only cover about 17%, and there is still a monthly token supply gap of up to $410 million. However, on September 23, Hasu, director of strategy at Flashbots and strategic advisor to Lido, made a controversial proposal with DBA co-founder Jon: to cut the total supply of HYPE by 45%. In the context of increasingly competitive Perp DEX and the dual test of narrative and liquidity, it remains to be seen whether this supply reform can rebuild market confidence or be merely a stopgap measure. The following is the original content: Hyperliquid's HYPE token has fallen for four consecutive days, down more than 16%, while the newly listed decentralized exchange token doubled over the weekend. CEX. IO chief analyst Illia Otychenko said in an interview with Decrypt: "There has really been a shift in attention in the past few days." DEX tokens Aster, Avantis, and STBL surged by 124%, 125%, and 147%, respectively, over the weekend, according to TradingView data. In contrast, Hyperliquid has fallen more than 13% since its weekend high and continues to fall 7.4% today, hitting $47.83 at one point during the session. Meanwhile, users began bearish HYPE over the weekend, and last Sunday, forecasters gave a 62% chance that HYPE would rise to $69, but by Monday morning, this trend had almost reversed, with users instead seeing a 58% probability of HYPE falling to $39. Reasons for HYPE's decline Peter Chung, head of research at Presto Research, told Decrypt that the reason for the decline in Hyperliquid's price was that investors took profits. Otychenko also pointed out that this is the result of a "partial capital rotation" and that large investors are selling HYPE. Among them is BitMEX founder Arthur Hayes, who sold 96,600 HYPE worth approximately $5.1 million last Sunday. Additionally, Hayes' family fund, Maelstrom, hinted in a tweet on Monday that approximately 237.8 million HYPE will be unlocked linearly starting November 29. At CoinGecko's current price of $49, the unlocked tokens are valued at approximately $11 billion. Maelstrom also added that Hyperliquid's buybacks and buying pressure from digital asset vault companies are expected to bring up to $410 million per month compared to the upcoming unlock scale. Market outlook and risks As competition from emerging decentralized exchanges intensifies, Otychenko suggests that the key question is whether these new tokens can continue to capture market attention after their initial popularity fades. "The risks are high right now," he added, "especially Aster, whose token supply is concentrated in a few wallets, making it highly susceptible to wild volatility or manipulation." Related Reading: "ASTER Soars 4x in a Week, Taking Advantage of Binance to Challenge Hyperliquid" Aster, a BNB Chain-based decentralized exchange, received a thumbs up last Wednesday from Binance co-founder CZ, who tweeted, "Good start, keep building." HYPE's Damocles Sword Hyperliquid has been soaring all the way - the ecosystem is booming, trading volume is at an all-time high, and USDH's bidding war is known as one of the sexiest "beauty pageants" in crypto history. But under the crown, the sword of Damocles hangs – HYPE is about to face its first real test. Starting from November 29, 237.8 million HYPE will be unlocked linearly for 24 months. At $50 each, this translates to $11.9 billion worth of team tokens unlocked – equivalent to about $500 million in potential selling pressure entering the market every month. The problem is that the current buyback effort can only absorb about 17%, which means that with a monthly token supply of $410 million hanging over the market, has the market already digested such a huge unlock? Imagine you're a Hyperliquid developer – you've worked this project for years, and now a life-changing token fortune is starting to unlock and can be cashed out with just a click. What would you do? Can DAT turn the tide? As Sonnet progresses, one of the largest DATs in crypto history is expected to be completed in the fourth quarter of 2025. It raised approximately 583 million HYPE tokens along with $305 million in cash. However, even if Sonnet were to be merged with other smaller HYPE DATs, it would still be a drop in the bucket compared to the huge unlocks to come. If you move the cheese of the old crypto forces, don't expect to retreat with you. Business is war, and the vast majority of crypto products have historically short lifecycles - winners are bound to attract a group of "vampire-style" attackers. Today, competition is intensifying, both from leading exchanges and emerging challengers like Lighter.xyz (Maelstrom portfolio company). CZ pushed Aster two months before unlocking? Most likely it is not a coincidence. "Original link"