DEX wars are heating up as Hyperliquid, Aster and Lighter battle for dominance; lasting success depends on tech, not token perks.
A new wave of DEX wars has shifted from token incentives to a focus on speed, leverage and sustainable infrastructure.
Hyperliquid continues to lead the market with over $300 billion in monthly volume, strong liquidity and rising institutional adoption.
Aster’s growth is powered by airdrops, Binance-backed credibility and leverage that attract professional traders.
