Which Cryptos Are Best Positioned To Follow The Same Trajectory As Hyperliquid (HYPE)?

bitcoinistОпубліковано о 2026-06-01Востаннє оновлено о 2026-06-01

Анотація

The article discusses cryptocurrencies that could potentially follow the remarkable trajectory of Hyperliquid (HYPE), which saw its token surge over 60% in a bear market. It identifies two main competitors in the perpetual decentralized exchange (DEX) space: ASTER, the token of the Aster DEX, and LIT from the Lighter DEX. While ASTER has achieved billions in open interest like Hyperliquid, its token price remains around 70% below its all-time high. Similarly, LIT has also fallen more than 66% from its peak despite some trading volume success. The article suggests these significant declines create speculation for potential recovery rallies similar to HYPE's performance. In contrast, Hyperliquid continues to dominate, holding a $17.3 billion market cap and ranking among the top 10 cryptocurrencies. The search is on for the next token that can defy the bear market and replicate such success.

Hyperliquid (HYPE) has managed to break the ceiling on what was thought possible in a crypto bear market. During a time when the likes of Bitcoin and Ethereum have struggled to hold up, the perpetual decentralized exchange (DEX) saw its native token price explode by more than 60% in only one month. Following this rise, the hunt seems to be on for the next familiar token that could repeat this trajectory and hit a new all-time high despite the bear market.

ASTER And LIGHTER Are Hyperliquid’s Biggest Crypto Competitors

Following the success of Hyperliquid after its token launch in 2024, competitors quickly followed, making the rounds in the crypto community. So far, the biggest of these cryptos has been ASTER, which is the native token of the Aster decentralized perpetual exchange.

While its growth is still a long way from that of Hyperliquid, ASTER has grown rapidly, with its open interest climbing into the billions. This makes it the only decentralized perpetual exchange besides Hyperliquid that has managed to maintain an open interest in the billions of dollars.

Despite its popularity, though, the ASTER cryptocurrency has not performed as well as expected. Whereas the Hyperliquid price has already rallied to new all-time highs, the ASTER token price is approximately 70% below its $2.4 all-time high that was set back in September 2024. As a result, investors are expecting that the ASTER price could pull a similar stunt to Hyperliquid and rally again.

Coming up behind ASTER is the LIT token, which is the native token of the Lighter decentralized perpetual exchange. While Lighter has seen some success, it has not been able to move into the billions of dollars in open interest like Hyperliquid and ASTER.

For now, it remains in the fourth position when it comes to perpetual decentralized exchanges in terms of open interest. However, in terms of trading volume, it comes third, moving ahead of Variational Omni despite it $959 million in open interest, according to data from the CoinCodex website.

On the price side, Lighter’s LIT token has performed similarly to that of ASTER. The LIT token had seen an initial run-up following its launch, reaching an all-time high of $4. However, it has fallen more than 66% from this peak, giving room for speculation that a recovery rally might be around the corner.

As for Hyperliquid, the token continues to command a tremendous mindshare in the crypto market. At its current price, it boasts an outstanding $17.3 billion market cap, making it the 9th-largest cryptocurrency by market cap, ahead of the likes of Dogecoin and Cash (ZEC).

HYPE bulls push for new highs | Source: HYPEUSDT on Tradingview.com

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Пов'язані питання

QAccording to the article, which cryptocurrency token is the main focus for potentially replicating Hyperliquid's (HYPE) success trajectory?

AThe main focus for potentially replicating Hyperliquid's success is the ASTER token, the native token of the Aster decentralized perpetual exchange.

QWhat is the main reason given for investor optimism regarding the ASTER token's future price?

AInvestors are optimistic because, despite its popularity and high open interest, the ASTER token price is approximately 70% below its all-time high, creating room for a potential recovery rally similar to Hyperliquid's.

QHow does the LIT token's performance compare to that of the ASTER token, according to the article?

AThe LIT token's performance has been similar to ASTER's. Both saw an initial run-up to an all-time high and have since fallen significantly from that peak, with LIT down more than 66%.

QWhat metric is used in the article to rank perpetual decentralized exchanges, and what is Lighter's (LIT) position in this ranking?

AThe article uses open interest to rank perpetual decentralized exchanges. According to this metric, Lighter (LIT) is in the fourth position.

QWhat significant market cap milestone has the Hyperliquid (HYPE) token achieved?

AHyperliquid (HYPE) has achieved a market cap of $17.3 billion, making it the 9th-largest cryptocurrency by market cap, ahead of Dogecoin and Zcash (ZEC).

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