CZ's DEX Push and Whale Buys Drive ASTER's Record Surge

Aster (ASTER), a decentralized exchange token endorsed by Binance founder Changpeng Zhao (CZ), has surged 2345% over the past month, outpacing major cryptocurrencies like Bitcoin and Dogecoin. As of Wednesday, ASTER reached an all-time high of $2.42, with a 4.02% increase in the last 24 hours. The token’s performance has defied broader market weakness, driven by speculative interest and strategic accumulation by large investors. Open interest in ASTER derivatives rose 13% in the past day to $1.20 billion, according to Coinglass data, reflecting heightened market activity.

Whale investors have significantly contributed to ASTER’s rally. Lookonchain data revealed that two whale wallets, including one linked to Galaxy Digital, accumulated 118.25 million ASTER tokens, valued at $270 million, over the last week. This institutional-level buying underscores confidence in the project’s potential. The token’s rapid ascent has sparked discussions about its alignment with CZ’s recent public advocacy for decentralized exchanges (DEXs).

CZ’s influence appears to be a catalyst for ASTER’s growth. The Binance founder has highlighted the expanding role of DEXs in the crypto ecosystem, stating that “more players will grow the market size faster.” ASTER’s integration with the BNB Chain, Binance’s native blockchain, positions it to benefit from the exchange’s infrastructure and user base. CZ’s X (Twitter) posts about the project have amplified its visibility, drawing attention to its decentralized trading model and scalability features.

Price action for ASTER remains robust. While the token has corrected slightly from its $2.42 peak to $2.11 at the time of writing, it continues to outperform Bitcoin and Dogecoin, which have seen more modest gains. Analysts attribute this momentum to a combination of CZ’s endorsement, whale activity, and the broader narrative around decentralized finance (DeFi) innovation. The token’s performance highlights growing investor appetite for projects aligned with Binance’s ecosystem, particularly as the exchange navigates post-settlement regulatory developments.

The ASTER surge also reflects broader market dynamics. With Binance’s native token, BNB, hitting a record high of $962, the exchange’s ecosystem is attracting renewed interest. CZ’s recent profile update from “ex-binance” to “binance” has fueled speculation about his potential return to the company, though this remains unconfirmed. Nonetheless, the synergy between BNB Chain and ASTER illustrates how Binance’s infrastructure continues to drive value for affiliated projects.

Market observers note that ASTER’s success hinges on sustaining its current trajectory and expanding its use cases beyond trading. While the token has captured attention through its price performance, long-term adoption will depend on its ability to deliver on its decentralized exchange promises. For now, the CZ-effect has proven potent, reinforcing the founder’s role as a key figure in shaping crypto market sentiment and project viability.

Source: [1] Changpeng Zhao-Endorsed Crypto Leaves Bitcoin, Dogecoin Behind with a 2345% Weekly Boom (https://www.benzinga.com/crypto/cryptocurrency/25/09/47858090/changpeng-zhao-endorsed-crypto-leaves-bitcoin-dogecoin-behind-with-a-2345-weekly-boom)