Aster Takes on Hyperliquid, Dogecoin Eyes ETF: Crypto's Wild Week

Aster challenges Hyperliquid's dominance as Dogecoin anticipates a potential ETF approval. A look at the week's crypto trends.

Aster Takes on Hyperliquid, Dogecoin Eyes ETF: Crypto's Wild Week

The crypto markets are buzzing with activity! Aster is challenging Hyperliquid's grip on the perpetual futures sector, and Dogecoin is stirring excitement with potential ETF developments. Let's dive into the details.

Aster vs. Hyperliquid: A DEX Duel

The perpetual futures market is heating up, and Aster is making waves. After Changpeng Zhao's endorsement, Aster has seen increased attention, even surpassing Hyperliquid in daily volume. On September 23, 2025, Aster recorded over $11 billion in perpetual volume, outshining Hyperliquid's $9.9 billion. This marks the first time Aster has flipped Hyperliquid in daily volume, signaling growing trader interest.

Aster's rise is fueled by Binance's founder's backing, adoption from renowned traders, and attractive liquidity rewards. Trading incentives and cross-chain features seem to be driving activity on the DEX. Native ASTER has also experienced significant gains, surging over 40% to $2.05 ATHs, marking a 2,000% increase on its monthly chart.

Hyperliquid's Tokenomics Under Scrutiny

While Aster is gaining momentum, Hyperliquid is facing challenges. A proposal is on the table to reduce HYPE's total supply by 45% to address concerns about valuation metrics. This comes amid fears of an impending $12 billion HYPE token unlock. The proposal suggests burning excess tokens originally allocated for the Future Emissions and Community Rewards (FECR) fund and the Assistance Fund (AF). There is also a discussion on removing the hard cap of one billion HYPE tokens, similar to Ethereum and Solana's flexible issuance policies.

Dogecoin's ETF Dreams

Dogecoin is back in the spotlight with developments surrounding a potential exchange-traded fund (ETF). 21Shares' DOGE ETF (TDOG) is now listed on the DTCC, a crucial step toward a potential launch, though not a guarantee of SEC approval. Analysts are eyeing Dogecoin's price chart, with a $0.50 target in sight if it surpasses the $0.28 resistance. An ETF launch, coupled with broader market gains, could trigger a rally for the original meme coin.

Dogecoin's Potential Breakout

Dogecoin has been trading around $0.24, and technical analysis suggests a potential breakout could be on the horizon. Crypto analyst Hailey highlights the Supertrend indicator's reliability in predicting Dogecoin's price movements. Historically, each time DOGE has flipped above the Supertrend red line, it has triggered a breakout. If Dogecoin flips green again, a 520% rally to nearly $0.90 is possible, potentially reaching a new all-time high.

Final Thoughts

The crypto world never sleeps! From DEX battles to ETF hopes and meme coin rallies, there's always something exciting happening. Keep your eyes peeled, do your research, and remember to enjoy the ride. Who knows what next week will bring? Maybe Dogecoin will finally get its ETF, or Aster will completely take over the DEX scene. Whatever happens, it's sure to be a wild one!