<p>/PRNewswire/ -- Bybit，全球第二大按交易量计算的加密货币交易所，发布了最新的 Bybit Crypto Insights 报告，分析了去中心化永续交易所的增长，以及 Aster 如何成为 Hyperliquid 的竞争者。</p>
<p>继续阅读</p>
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<p>Bybit Crypto Insights 报告：Aster 在永续 DEX 热潮中挑战 Hyperliquid</p>
<p>Bybit 已通过 Byreal 进入链上 DEX 竞争，Byreal 是一个基于 Solana 的去中心化交易所，目前处于测试阶段，计划在十月初上线主网。根据 DefiLlama 的数据，自测试版上线以来，Byreal 的累计交易量已超过 3.3541 亿美元，日交易量峰值达到 2815 万美元。TVL 达到 1422 万美元的高点。Byreal 采用混合流动性模型，包括 RFQ 和 CLMM 机制，以减少滑点并抑制 MEV。</p>
<p><strong>Aster 的崛起</strong></p>
<p>Aster 是由 Astherus 和 ApolloX 合并而成，于九月推出，代币在数小时内飙升超过 300%。ASTER 代币在两天内达到了 13.3 亿美元的市值。Aster 的特点包括无 MEV 执行、隐藏订单和为零售及专业用户设计的双重交易界面。基于零知识的链和与 Binance 生态系统的集成计划增强了其早期定位。</p>
<p><strong>Aster 与 Hyperliquid 的对比</strong></p>
<p>Hyperliquid 仍然是领先的去中心化永续 DEX，九月的交易量约为 2000 亿美元，而 Aster 的交易量为 200 亿美元。其市值估计为 132 亿美元，而 Aster 的市值约为 25 亿美元。</p>
<p>这两个平台反映了截然不同的策略。Hyperliquid 建立了自己的 Layer 1 基础设施，采用 HyperBFT 共识和亚秒最终性，完全在链上提供类似中心化交易所的执行。Aster 主要在 BNB Chain 上推出，采用模块化设计，强调生态系统集成、品牌建设和代币驱动的增长。</p>
<p><strong>Hyperliquid 与 dYdX/GMX 有何不同？</strong></p>
<p>传统平台如 dYdX 和 GMX 强调去中心化作为核心原则。相比之下，像 Hyperliquid 和 Aster 这样的新兴参与者更注重速度、流动性和用户体验。两者在性能方面牺牲了一定程度的去中心化。</p>
<p><strong>Hyperliquid 及其未来</strong></p>
<p>Bybit 的报告指出，诸如无信任和社区治理等理想正在让位于执行和用户体验。Hyperliquid 长期以来一直是该领域的基准，开发了一个优化交易的区块链，具备完全链上匹配和亚秒结算。</p>
<p>然而，Aster 的可见度并不是通过构建新基础设施获得的，而是通过叙事、交易所支持和激励措施吸引了关注。其快速崛起说明了代币发行、合作伙伴关系和背书如何改变市场动态。</p>
<p><strong>未来的道路</strong></p>
<p>报告总结称，去中心化永续 DEX 正在演变为一种将去中心化视为特征而非基础的模型。随着中心化交易所能够推出自己的版本，竞争预计将加剧。</p>
<p>曾被视为不可触及的 Hyperliquid 现在面临生存挑战。其基础设施依然强大，但市场越来越奖励叙事、生态系统激励和文化共鸣，以及技术性能。</p>
<p>在 Bybit Crypto Insights 报告中，了解 Aster 的崛起、Hyperliquid 的地位以及去中心化永续交易所不断演变的格局：去中心化永续 DEX 的崛起：Aster 如何与 Hyperliquid 相匹配。</p>
<p>#Bybit / #TheCryptoArk /#BybitResearch</p>
<p><strong>关于 Bybit</strong></p>
<p>Bybit 是全球第二大按交易量计算的加密货币交易所，服务于超过 7000 万用户的全球社区。成立于 2018 年，Bybit 正在通过创建一个更简单、开放和平等的生态系统来重新定义去中心化世界的开放性。Bybit 强调 Web3，战略性地与领先的区块链协议合作，提供强大的基础设施并推动链上创新。以其安全的保管、多样化的市场、直观的用户体验和先进的区块链工具而闻名，Bybit 在 TradFi 和 DeFi 之间架起了桥梁，赋能建设者、创作者和爱好者释放 Web3 的全部潜力。在 Bybit.com 探索去中心化金融的未来。</p>
<p>有关 Bybit 的更多详细信息，请访问 Bybit Press</p>
<p>如需媒体咨询，请联系：[email protected]</p>
<p>如需更新，请关注：Bybit 的社区和社交媒体</p>
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<p>Bybit 最新的《加密洞察》报告强调了 Aster 和 Hyperliquid 在去中心化永续交易所（DEX）市场之间的竞争。Aster 由 Astherus 和 ApolloX 合并而成，推出时市值为 13.3 亿美元，并具有无 MEV 执行等特点。当前的市场领导者 Hyperliquid 在 9 月份的交易量达到了 2000 亿美元。报告指出，市场关注点从去中心化转向用户体验和执行，表明在这个竞争激烈的环境中，讲故事和生态系统激励变得至关重要</p>

<p>, /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.</p>
<div class="lb-trans"><p>/PRNewswire/ -- Bybit，全球第二大按交易量计算的加密货币交易所，发布了最新的 Bybit Crypto Insights 报告，分析了去中心化永续交易所的增长，以及 Aster 如何成为 Hyperliquid 的竞争者。</p>
</div><p>Continue Reading</p>
<div class="lb-trans"><p>继续阅读</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://www.prnewswire.com/news-releases/null" alt="" original-src="https://www.prnewswire.com/news-releases/null"/></p>
<p>Bybit Crypto Insights Report: Aster Takes on Hyperliquid in the Perp DEX Boom</p>
<div class="lb-trans"><p>Bybit Crypto Insights 报告：Aster 在永续 DEX 热潮中挑战 Hyperliquid</p>
</div><p>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.</p>
<div class="lb-trans"><p>Bybit 已通过 Byreal 进入链上 DEX 竞争，Byreal 是一个基于 Solana 的去中心化交易所，目前处于测试阶段，计划在十月初上线主网。根据 DefiLlama 的数据，自测试版上线以来，Byreal 的累计交易量已超过 3.3541 亿美元，日交易量峰值达到 2815 万美元。TVL 达到 1422 万美元的高点。Byreal 采用混合流动性模型，包括 RFQ 和 CLMM 机制，以减少滑点并抑制 MEV。</p>
</div><p><strong>The Rise of Aster</strong></p>
<div class="lb-trans"><p><strong>Aster 的崛起</strong></p>
</div><p>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.</p>
<div class="lb-trans"><p>Aster 是由 Astherus 和 ApolloX 合并而成，于九月推出，代币在数小时内飙升超过 300%。ASTER 代币在两天内达到了 13.3 亿美元的市值。Aster 的特点包括无 MEV 执行、隐藏订单和为零售及专业用户设计的双重交易界面。基于零知识的链和与 Binance 生态系统的集成计划增强了其早期定位。</p>
</div><p><strong>How Aster stacks up against Hyperliquid</strong></p>
<div class="lb-trans"><p><strong>Aster 与 Hyperliquid 的对比</strong></p>
</div><p>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.</p>
<div class="lb-trans"><p>Hyperliquid 仍然是领先的去中心化永续 DEX，九月的交易量约为 2000 亿美元，而 Aster 的交易量为 200 亿美元。其市值估计为 132 亿美元，而 Aster 的市值约为 25 亿美元。</p>
</div><p>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.</p>
<div class="lb-trans"><p>这两个平台反映了截然不同的策略。Hyperliquid 建立了自己的 Layer 1 基础设施，采用 HyperBFT 共识和亚秒最终性，完全在链上提供类似中心化交易所的执行。Aster 主要在 BNB Chain 上推出，采用模块化设计，强调生态系统集成、品牌建设和代币驱动的增长。</p>
</div><p><strong>How is Hyperliquid different from dYdX/GMX?</strong></p>
<div class="lb-trans"><p><strong>Hyperliquid 与 dYdX/GMX 有何不同？</strong></p>
</div><p>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.</p>
<div class="lb-trans"><p>传统平台如 dYdX 和 GMX 强调去中心化作为核心原则。相比之下，像 Hyperliquid 和 Aster 这样的新兴参与者更注重速度、流动性和用户体验。两者在性能方面牺牲了一定程度的去中心化。</p>
</div><p><strong>Hyperliquid and beyond</strong></p>
<div class="lb-trans"><p><strong>Hyperliquid 及其未来</strong></p>
</div><p>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.</p>
<div class="lb-trans"><p>Bybit 的报告指出，诸如无信任和社区治理等理想正在让位于执行和用户体验。Hyperliquid 长期以来一直是该领域的基准，开发了一个优化交易的区块链，具备完全链上匹配和亚秒结算。</p>
</div><p>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.</p>
<div class="lb-trans"><p>然而，Aster 的可见度并不是通过构建新基础设施获得的，而是通过叙事、交易所支持和激励措施吸引了关注。其快速崛起说明了代币发行、合作伙伴关系和背书如何改变市场动态。</p>
</div><p><strong>The road ahead</strong></p>
<div class="lb-trans"><p><strong>未来的道路</strong></p>
</div><p>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.</p>
<div class="lb-trans"><p>报告总结称，去中心化永续 DEX 正在演变为一种将去中心化视为特征而非基础的模型。随着中心化交易所能够推出自己的版本，竞争预计将加剧。</p>
</div><p>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.</p>
<div class="lb-trans"><p>曾被视为不可触及的 Hyperliquid 现在面临生存挑战。其基础设施依然强大，但市场越来越奖励叙事、生态系统激励和文化共鸣，以及技术性能。</p>
</div><p>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.</p>
<div class="lb-trans"><p>在 Bybit Crypto Insights 报告中，了解 Aster 的崛起、Hyperliquid 的地位以及去中心化永续交易所不断演变的格局：去中心化永续 DEX 的崛起：Aster 如何与 Hyperliquid 相匹配。</p>
</div><p>#Bybit / #TheCryptoArk /#BybitResearch</p>
<div class="lb-trans"><p>#Bybit / #TheCryptoArk /#BybitResearch</p>
</div><p><strong>About Bybit</strong></p>
<div class="lb-trans"><p><strong>关于 Bybit</strong></p>
</div><p>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.</p>
<div class="lb-trans"><p>Bybit 是全球第二大按交易量计算的加密货币交易所，服务于超过 7000 万用户的全球社区。成立于 2018 年，Bybit 正在通过创建一个更简单、开放和平等的生态系统来重新定义去中心化世界的开放性。Bybit 强调 Web3，战略性地与领先的区块链协议合作，提供强大的基础设施并推动链上创新。以其安全的保管、多样化的市场、直观的用户体验和先进的区块链工具而闻名，Bybit 在 TradFi 和 DeFi 之间架起了桥梁，赋能建设者、创作者和爱好者释放 Web3 的全部潜力。在 Bybit.com 探索去中心化金融的未来。</p>
</div><p>For more details about Bybit, please visit Bybit Press</p>
<div class="lb-trans"><p>有关 Bybit 的更多详细信息，请访问 Bybit Press</p>
</div><p>For media inquiries, please contact: [email protected]</p>
<div class="lb-trans"><p>如需媒体咨询，请联系：[email protected]</p>
</div><p>For updates, please follow: Bybit's Communities and Social Media</p>
<div class="lb-trans"><p>如需更新，请关注：Bybit 的社区和社交媒体</p>
</div><p>Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube</p>
<div class="lb-trans"><p>Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube</p>
</div><p>SOURCE Bybit</p>
<div class="lb-trans"><p>来源 Bybit</p>
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Bybit 加密洞察报告：Aster 在永续合约去中心化交易所的热潮中对抗 Hyperliquid