Aster

Bitcoin

when

Hyperliquid

<h4>Crypto is in a rough patch. Sentiment is weak. Most charts point down. When Bitcoin drops, most altcoins follow without question. But this time, something has changed. Two altcoins are breaking from the trend. Aster and Hyperliquid refuse to follow. While Bitcoin slides, they show real strength. Moves like this are rare. They hint at deeper forces at work: new demand, fresh inflows, or shifts in user behavior.&nbsp;</h4>
Today, I will look at what makes these two altcoins stand out. I will break down the data, the flows, and the structure behind their strength. By the end, you’ll see why these two altcoins are not just surviving the downturn. Instead, they are outperforming the biggest asset in the space.
<h5>What Is Happening With These Two Altcoins?</h5>
So, let’s start with some numbers on these two altcoins. Where does Bitcoin come from over the last 4 to 6 weeks? I will also give you the numbers on how $ASTER and $HYPE performed during the same time frame?
Here are the Bitcoin numbers. Over the last 6 weeks, <a href="https://www.coingecko.com/en/coins/bitcoin" target="_blank" rel="noopener noreferrer nofollow">$BTC</a> is down by around 33%. It went from $125k to the current $84k. When I look at the 30 day and 14 days numbers, they are, respectively, 22% and 17.5% down. Today, $BTC is neutral. It’s going sideways.
Now let’s look at <a href="https://www.coingecko.com/en/coins/aster-2" target="_blank" rel="noopener noreferrer nofollow">$ASTER</a> first. It went from $2.06 to $1.19 over the last 6 weeks. So, yes, it slid together with Bitcoin. However, it changes when I look at the 30- and 14-day numbers. They are respectively 11.6% and 13.8% up. On the day, it’s 8.3% down.&nbsp;
<blockquote class="twitter-tweet">
 Not <a href="https://twitter.com/search?q=%24ASTER&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ASTER</a> outperforming <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a>
 New ATH is a matter of when, not If
 4 figs Profit on Longs. Deep 5 figs on Spot.
 Aster la Vista! 🤗 <a href="https://t.co/VXFB56uIpj" rel="noopener noreferrer nofollow">https://t.co/VXFB56uIpj</a> <a href="https://t.co/5J4aEGlKbw" rel="noopener noreferrer nofollow">pic.twitter.com/5J4aEGlKbw</a>
 — InfoSpace OG (@InfoSpace_OG) <a href="https://twitter.com/InfoSpace_OG/status/1990712184066699445?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 18, 2025</a>
</blockquote>

For <a href="https://www.altcoinbuzz.io/?s=hyperliquid" target="_blank" rel="noopener noreferrer nofollow">Hyperliquid</a>, we see something similar, although not as strong as with Aster. It was around $47 only 6 weeks ago. Now it’s $34. But, here also, the 30 day and 14-day numbers look different. <a href="https://www.coingecko.com/en/coins/hyperliquid" target="_blank" rel="noopener noreferrer nofollow">$HYPE</a> is down 1.8% over 30 days and 13.5% over 14 days. However, on the day, it’s down 12.5%. Everything is currently bleeding. Even Aster and Hyperliquid.&nbsp;
<blockquote class="twitter-tweet">
 While <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a>, <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a> and many other altcoins have been continuously losing ground over the past week, <a href="https://twitter.com/search?q=%24HYPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$HYPE</a> is performing extremely well.
 This is not a coincidence, but a direct result of Hyperliquid’s unmatched dominance in the perp trading space.
 Hyperliquid coded. <a href="https://t.co/2eI2tfYxgc" rel="noopener noreferrer nofollow">https://t.co/2eI2tfYxgc</a> <a href="https://t.co/gvYhzFuIOS" rel="noopener noreferrer nofollow">pic.twitter.com/gvYhzFuIOS</a>
 — Hyperliquid Daily (@HYPERDailyTK) <a href="https://twitter.com/HYPERDailyTK/status/1990670412326600767?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 18, 2025</a>
</blockquote>

Still, $HYPE has been outperforming Bitcoin since the last 30 days. $ASTER even shows a stronger case. Both tokens seem to go against the market. $ASTER is showing strong gains and $HYPE is keeping up. They both outperform Bitcoin and the rest of the altcoins.&nbsp;Check out <a href="https://youtu.be/RswbED5X-Yg?si=YMxxNs4I6513oo4f&amp;t=563" target="_blank" rel="noopener noreferrer nofollow">Cody’s video</a> from a few days on Hyperliquid.&nbsp;
<blockquote class="twitter-tweet">
 Day 63 <a href="https://twitter.com/search?q=%24ASTER&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ASTER</a> vs Hyperliquid
 Aster has now been live for 63 days.
 Today’s metrics:
 Perps Aster 9.9b vs HL 12.1b&gt; 82% of HL Spot -Aster 150m vs HL 323m&gt; 47% of HL Fees -Aster 2.17m vs HL 2.5m&gt; 87% of HL OI – Aster 2.3b vs HL 7.7b &gt; 30% of HL 33% of entire perp market… <a href="https://t.co/kRn7dRIN5w" rel="noopener noreferrer nofollow">https://t.co/kRn7dRIN5w</a> <a href="https://t.co/4ZZtLVO2j5" rel="noopener noreferrer nofollow">pic.twitter.com/4ZZtLVO2j5</a>
 — Panke (@AsterGod) <a href="https://twitter.com/AsterGod/status/1990798410094424210?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 18, 2025</a>
</blockquote>

So, what is going on here? It’s time to take a closer look at this.
<h5>Why Are These Two Altcoins Breaking the Downwards Trend?</h5>
So, both offer derivatives/<a href="https://www.altcoinbuzz.io/?s=perps" target="_blank" rel="noopener noreferrer nofollow">perps</a>. This means that traders can use leverage. Aster offers up to 1001x leverage, in specific cases, and on Hyperliquid you can find up to <a href="https://metamask.io/perps" target="_blank" rel="noopener noreferrer nofollow">40x</a>. But be very careful when using leverage. The profits are tempting, but you can also easily lose your money.
<blockquote class="twitter-tweet">
 1/ Custom Leverage Per Asset 🎡
 🔹 Lower max leverage for speculative tokens like low-cap memecoins 🔹 Smart limits based on volatility + liquidity 🔹 Blue chips = higher leverage, up to 1001× on BTC
 This proactive strategy shields Aster from risks posed by volatile tokens.
 — Aster (@Aster_DEX) <a href="https://twitter.com/Aster_DEX/status/1909809214941479416?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 9, 2025</a>
</blockquote>

During a downward direction of the market, this can be one of the easiest ways to make money. After all, perp DEXes allow trading in both directions, long or short. This provides flexibility during a down-market. For instance, traders can hedge or short. So, let’s take a look at what both options mean.
<h6>Hedging</h6>
Goal: To reduce risk and protect against potential losses on an existing position.
Strategy: Take an offsetting position in a related asset. For example, if you hold $BTC, you could short a $BTC futures contract on a DEX.
Outcome: If the market falls, your long $BTC position loses value. However, your short futures contract gains value, offsetting the losses.
If the market rises, the gain on your $BTC position is offset by a loss on the short contract. However, the hedge still allows you to take part in the upside after covering the hedge cost.
<blockquote class="twitter-tweet">
 Saturday Alpha: Got DeFi rewards that are vested forever, dumping -90% by the time you can touch them… and claiming now nukes you with a 90% haircut?
 Easy fix: Hedge the whole thing. Open an equivalent short on Perps. Reward token dumps? Short prints. Token pumps? Rewards… <a href="https://t.co/blRIsUJVzp" rel="noopener noreferrer nofollow">pic.twitter.com/blRIsUJVzp</a>
 — JohnnyTime 🤓🔥 (@RealJohnnyTime) <a href="https://twitter.com/RealJohnnyTime/status/1989680341808783676?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 15, 2025</a>
</blockquote>

You can compare it with buying insurance for your portfolio. It’s a defensive move to mitigate damage from an adverse market movement. So, here is the key. Once the market stabilizes, or you feel the risk is gone, you can close the hedge or the short position. After closing it, you get the full upside on your $BTC again. You temporarily sacrificed some upside to protect yourself while the market was uncertain.
<blockquote class="twitter-tweet">
 We all have different ways of hedging.
 Some of us hold onto our boring corpo jobs, others divest into other asset classes outside of crypto, a few hedge within the same asset class via shorts, options, and perps.
 There is no “right” way to hedge, risk profiles are unique.
 — Foobazzler 🇺🇦 (@Foobazzler) <a href="https://twitter.com/Foobazzler/status/1466086273035034628?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">December 1, 2021</a>
</blockquote>

Look at it this way. Holding $BTC is like owning a house.
<ul>
 <li style="font-weight: 400;">Your short futures hedge is like buying temporary insurance.</li>
 <li style="font-weight: 400;">If it “rains”, as in the market drops, the insurance pays you.&nbsp;</li>
 <li style="font-weight: 400;">If it “doesn’t rain” or the market rises, the insurance cost slightly reduces your profit. However, you still fully benefit once the storm risk passes.</li>
</ul>
<h6>Shorting</h6>
Shorting or “going short” in this case means betting that the price of <a href="https://www.altcoinbuzz.io/?s=bitcoin" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a> will go down.
In futures markets, you can profit when the price falls. Even if you don’t own the asset. You’re essentially taking the opposite side of someone who is long. Shorting is like putting on inverse exposure.&nbsp;
<blockquote class="twitter-tweet">
 “Shorting gets a bad rap. Some say it’s betting on societal collapse &amp; profiting from pain.
 I see it differently.A tool is neutral; its morality comes from its use. Shorting is a risk management &amp; price discovery tool, period.
 Especially now in the age of AI agents. These… <a href="https://t.co/7IK45UhqwN" rel="noopener noreferrer nofollow">https://t.co/7IK45UhqwN</a>
 — PVP AI Agent💎 (@pvpai_agent) <a href="https://twitter.com/pvpai_agent/status/1990815349852307483?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 18, 2025</a>
</blockquote>

If the market drops, you make money instead of losing it. That’s why it’s used in hedging. It balances your long position.
So, after October 10th, with its cascading liquidations, you would think that people had enough of using leverage. However, here you see how it can also work to your advantage. These options make trading perps interesting to traders.&nbsp;
<blockquote class="twitter-tweet">
 Perps is betting on the coin going up or down with massive leverage ability the real money is in shorting on times like now when the market was way overextended and you could see this coming for the past several months <a href="https://t.co/qjYvfd1H5T" rel="noopener noreferrer nofollow">pic.twitter.com/qjYvfd1H5T</a>
 — Vincent Ortega Jr. (@vincentortegajr) <a href="https://twitter.com/vincentortegajr/status/1990542446514573445?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 17, 2025</a>
</blockquote>

Even or especially during a downwards move of the market. However, let me warn you to only use leverage if you fully understand it. People are still being liquidated left and right. Nonetheless, it’s said that the most money is made during downwards moves.
<blockquote class="twitter-tweet">
 Stay away from leverage
 Stick with spot
 Perps can be tempting but you’re most likely going to get liquidated if you don’t know what you’re doing
 — Mello (@mellometrics) <a href="https://twitter.com/mellometrics/status/1895174379161395457?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 27, 2025</a>
</blockquote>

So, this gives you a better view of why these two platforms are outperforming Bitcoin. Together with their respective altcoins.
<h5>What Else Is Cooking for Aster and Hyperliquid?</h5>
So, I just looked at the main reason why Aster and Hyperliquid outperform Bitcoin. Sure, you can find perp DEXes on each chain. However, there’s more to it. In the perps DEX market, these two are the top tier platforms. Here are a few more features that set them apart.
Hyperliquid has a strong buyback program. It recently bought $1.3 $HYPE back. There’s also the new <a href="https://x.com/CryptoMasterCom/status/1987397118013940098" target="_blank" rel="noopener noreferrer nofollow">BLP testnet</a> launch. Most likely a Borrow Lending Pool testnet. Thus, opening new features. This will be a major infrastructure upgrade. There’s also speculation of <a href="https://x.com/Obesepotato_hl/status/1966140081967955986" target="_blank" rel="noopener noreferrer nofollow">airdrop season #2</a>. As you may remember, airdrop #1 was a massive success. Some early users walked away with life changing money.
<blockquote class="twitter-tweet">
 <a href="https://twitter.com/search?q=%24HYPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$HYPE</a> isn’t just pumping, it’s repricing
 ✅ BLP testnet launch ✅ Season 2 airdrop speculation ✅ $1.3B in buybacks ✅ 60% MoM staking growth ✅ 6.1% market share in perps
 Smart money’s long, retail’s catching on
 This isn’t hype, it’s validation <a href="https://t.co/UvTXqL0NFc" rel="noopener noreferrer nofollow">pic.twitter.com/UvTXqL0NFc</a>
 — Nansen 🧭 (@nansen_ai) <a href="https://twitter.com/nansen_ai/status/1990631573063152062?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 18, 2025</a>
</blockquote>

Like Hyperliquid, Aster has a new airdrop program. However, it’s already in stage 4. It also offers a $10 million trading competition. Aster calls this the Double Harvest. It started on November 17th and lasts for 5 weeks. This should speed up ecosystem activity. Aster offers leveraged perps, spot and order-book trading, and its own Layer 1 is coming up. It also has a <a href="https://x.com/Tokenomist_ai/status/1988947615560646927" target="_blank" rel="noopener noreferrer nofollow">buyback program</a>. To date, it bought back $214 million $ASTER.
<blockquote class="twitter-tweet">
 Double Harvest has started. The board is moving. ⌛️ 17 Nov, 00:00 UTC – 21 Dec, 23:59 UTC
 5 weekly phases, 1,000 seats each, up to $10M total rewards. Weekly prize pools scale from $1M to $2M as each phase’s total Perpetual volume reaches set milestones.
 Every Perpetual trade… <a href="https://t.co/ioBE6Kyyx8" rel="noopener noreferrer nofollow">https://t.co/ioBE6Kyyx8</a>
 — Aster (@Aster_DEX) <a href="https://twitter.com/Aster_DEX/status/1990208279474208830?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 17, 2025</a>
</blockquote>

So, you see, both are working hard to set themselves apart. There are various reasons why these two perp DEXes are outperforming $BTC. $ASTER and $HYPE are two strong altcoins to have in your portfolio right now.
Are you using any of these two platforms? Or any other perp platforms? Let me know in the comments and make sure to drop by our <a href="https://x.com/Altcoinbuzzio" target="_blank" rel="noopener noreferrer nofollow">X</a> and <a href="https://discord.gg/p8524Xu9" target="_blank" rel="noopener noreferrer nofollow">Discord</a> channels.
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<h6>Disclaimer</h6>
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Why Are These Two Altcoins Pumping Against the Crypto Dump?

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