Hyperliquid over Aster, plus the CLOB challengers worth studying
Thread226 words
Bullish call$HYPE+72%since this piece, moved with the callHow it played out ↓Argues Aster lacks tech, UX and real users and is a paid-KOL trade, and that CEXes and VCs are fudding HYPE to rotate back cheaply. Lists credible CLOB challengers including Bullet, Paradex, Monaco and Lighter.
Key claims
Aster is not a real DEX and is driven by CZ and paid KOLs
Legit challengers include Bullet, Paradex, Monaco, Lighter
Hyperliquid >>> Aster
Aster doesn't have the tech
Aster doesn't have the UX
Aster doesn't have the (real) users
Aster is not even a DEX
Aster is a CZ / paid KOL trade
CEXes and VCs are fudding your HYPE once again to scare you out of your positions bc they're still underexposed and hope they can hard shill and scam pump the the "HL competitors" they've been funding and use you as exit liquidity, just to finally rotate back the gains into HYPE at cheap prices and tell you how they've "always been bullish".
If you're playing the hype to make money gg, but pls don't get rekt frens.
And remember to stay Hyperliquid.
But don't get me wrong, it's not like there is "only" Hyperliquid
Many legit CLOB players are emerging, with some of my favs being @bulletxyz, @paradex, @monacotrading or @Lighter_xyz (among others)
That's teams building unique tech with a real vision & the ones you should study
And bc we're on it already, adding some of the "among others I'm bullish on" category here too:
@GTE_XYZ, @valhalla_defi, @atlasxyz, @hibachi_xyz, @DecibelTrade, @DeepBookonSui, @etherealdex
Should be enough to DYOR on for the moment.
Finally, if you're into CLOBs, stay tuned for our upcoming campaign with @a1research__ that will go so much deeper on the space than pretty much everything you've seen to date.
x.com/a1research__/status/1970948557374095802
How the call played out · since 25 Sep 2025
Prices as of 23 Oct 2026This piece takes a view on $HYPE, so that move is read against the call.
Stay Hyperliquid: Aster lacks tech, UX and real users, and the fud on HYPE aims to rotate back in cheap.
+72%
Moved with the call · over 13 months
- At publication
- $45.54
- Now
- $78.14
- vs BTC
- +138%
- After 1 month
- −14%
- After 3 months
- −45%
- After 1 year
- +102%
- High since
- +113% 23 Sep 2026
- Low since
- −54% 21 Jan 2026
Since then
Zero has written 24 more pieces on Hyperliquid and $HYPE since this one.
- State of Hyperliquid: two years after the airdrop (A1 Research report)Covers $HYPE
- Hyperliquid onshore: Payward and Bitnomial's permissioned HIP-3* venueBullish call on $HYPE
- Hyperliquid's US regulatory path: HyperCore, HIP-3 deployers and buildersOn Hyperliquid
- Hyperliquid ecosystem briefing: 14 days of regulation, HIP-3/4, RWAs, revenueBullish call on $HYPE
Daily closes in USD from DefiLlama and Yahoo Finance. Only a bullish or bearish call in a thesis or market take is tracked; explainers, lists, maps and mentions are neutral context. Not financial advice.