CZ Endorsement Drives Aster Token Up by 1500%

Aster, a new and increasingly popular crypto trading platform, saw its token surge by 1500% following CZ’s post about it on social media, noting it’s now the biggest holder of BSC-USDT outside Binance.

The endorsement placed  Aster in the spotlight, sending its token from $0.09 to $1.57 in a week and boosting its market cap above $2.3 billion, while the trading volume surged over 160% in 24 hours to $1.22 billion.

In another post, CZ praised Aster for supporting multiple blockchains and offering hidden order features. He also urged banks to adopt BNB, highlighting his push for useful crypto projects, and emphasized that Aster is not limited to the BNB chain but operates across several networks. 

Whale Activity Fuels Aster Token Rally Further

Along with  CZ backing, the surge gained further momentum as whales bought large amounts of Aster, including one whale who spent $2 million in USDT to purchase $1.8 million tokens and even borrowed funds from Ave to increase exposure.

In addition, a trader @CookerFlips deposited $1.24 million into Aster over three days and later withdrew $6.7 million worth of tokens, making over $5 million in profit. 

Aster Surpasses Hyperliquid in Total Value Locked

According to DeFiLlama data, Aster’s total value locked (TVL) has risen to $870 million, surpassing Hyperliquid’s $681 million and taking the top spot in the Perpetual DEX market.

Although Aster processed over $17 billion in trades in one month and generates more than $70 million in annual revenue, Hyperliquid still leads in monthly trading volume and open positions. 

The surge is linked to  Aster’s ties with YZi Labs (formerly Binance Labs), which invested in the project last year and provided exposure, support, and resources. In addition, speculations about CZ’s possible return to Binance has also highlighted his influence on crypto projects like Aster.