Aster has established itself as one of the most profitable protocols in the digital asset sphere, reporting over $14.33 million in fee revenue in the last 24 hours, according to data from DeFiLlama.
This places Aster second in the world for daily fee capture, ahead of legacy competitors such as Circle ($7.7 million) and Uniswap ($4.19 million), and slightly behind Tether, which retained the top position in daily fee capture with $22.18 million.
Aster’s remarkable success is even more apparent relative to its nearest competitor in derivatives, Hyperliquid, which produced almost ten times less revenue in the same time frame. This dramatic rise suggests Aster is continuing to grow as a leader in the DeFi ecosystem.
Aster Becomes Top Non-Stablecoin Protocol
While Aster had a significant growth rate, Tether continued to be the world’s largest fee generator, bringing in $22.18 million in the past 24 hours.
A significant share of revenue from Tether is driven by yield income from the U.S. treasury bills backing its USDT stablecoin, so, in total, yield income from stablecoins takes the first ranking by revenue in the scope of the crypto ecosystem.
Aster is generating $14.33 million per day in revenue, now the strongest protocol aside from stablecoins, and outperformed peer protocols Circle and Uniswap in revenues while leading by a significant margin.
The other strong earners included edgeX ($3.69 million), Aave ($3.01 million), and Lido ($2.62 million).
Aster’s Recent Milestones Strengthen Market Position
Aster’s growth has gained traction throughout the entire month of September, culminating in a few notable milestones.
On September 24th, Aster’s daily revenue surpassed Circle’s for the first time ever, earning $8.56 million and earning the number two position globally, after Tether.
On that same day, Aster’s native token, ASTER, reached an all-time high of $2.33, driven by $2.75 billion in 24-hour trading volume.
Support from such key individuals as CZ and institutional backing from YZi Labs has helped build investor confidence, and growing excitement in the community is focused on the imminent launch of Aster Chain.
Also Read: Trust Wallet Partners With Aster To Add Perpetual Futures In 100+ Markets With Up To 100x Leverage
Celebrity Investment Adds Momentum Amid Market Concerns
On September 26th, Aster drew more interest when YouTuber Mr. Beast purchased 538,384 (about $990,000) ASTER tokens across two wallets, UnoCrypto reported.
News following this led to some hype, and the price of ASTER pushed over 200%, relative to the week of the announcement, despite the token going down 7% in daily trades shortly after Mr. Beast’s announcement.
As per the on-chain data earlier today, Mr. Beast has increased his holdings in Aster.
Around twelve hours ago, he deposited 320.6k USDT into the protocol to purchase 167.4k ASTER tokens, giving him a total of 705.8k ASTER tokens at an average entry price of about $1.87.
Additionally, CZ’s endorsement of ASTER, along with celebrity endorsements, institutional sponsorship, and modestly increasing revenue streams, has positioned the Aster protocol as one of the leading protocols we are watching in the DeFi space.
Aster (ASTER) Market Performance
Aster (ASTER) saw prominent advancements during today’s trading, indicating further momentum in trading volume, price, and interest.
Currently, ASTER is being traded at $1.97, with an impressive 24-hour trading volume of $1,071,488,918.
The uptick in trading volume indicates a higher level of liquidity and interest in the token’s markets.
In the last 24 hours, ASTER has climbed 9.46%, continuing a bullish rally over the past week; in a 7-day period, ASTER has climbed 37.82%.
With a circulating supply of 1.7 billion ASTER, the project is now valued at a market capitalization of approximately $3.25 billion.
This market cap value further correlates to Aster being classified as mid-to-large cap crypto assets and demonstrates that the project may begin receiving engaged interest as a key contributor to the projects in the market.
Also Read: Youtuber Mr. Beast Purchased 538,384 $ASTER Tokens Worth $990K