Aster vs Hyperliquid – Value BreakdownASTER / TetherUS PERPETUAL CONTRACTBINANCE:ASTERUSDT.PCrypto_MeehowWas just taking a closer look at HYPE vs $ASTER. Both projects are moving fast, but the fundamentals tell two very different stories. Hyperliquid (HYPE): Fully Diluted Valuation (FDV): $46.7B Annualized Fees: $1.1B 30D Perp Volume: $300B Volume = ~2% of the entire stablecoin market Valuation multiple: 42.5x fees Aster ($ASTER): Fully Diluted Valuation (FDV): $16.5B Annualized Fees: $110M 30D Perp Volume: $27.7B Valuation multiple: 150x fees Takeaway: While $ASTER has seen explosive early performance, the fee-to-FDV ratio is stretched. Meanwhile, HYPE is already generating serious fee revenue and market share, making it fundamentally a stronger value proposition even at current levels.