Aster News Today: CZ's Endorsement Fuels ASTER's 9900% Surge, But Concentrated Holdings Spark Doubts

The ASTER token has experienced a meteoric price surge following endorsements from prominent figures in the crypto industry, particularly Changpeng Zhao (CZ), the former CEO of Binance. According to blockchain analytics, ASTER's price rose from $0.02 at its token generation event (TGE) on September 17, 2025, to $2 within four days, marking a 9,900% increasetitle1^[1]. This surge briefly pushed the token's market capitalization to $3.3 billion, securing its place as one of the most notable token launches in recent memorytitle1^[1]. While the price has since cooled to $1.59, the token remains a focal point for retail and institutional investorstitle1^[1].

CZ's endorsement played a pivotal role in ASTER's rise. He highlighted the platform's innovative features, including hidden orders and multi-chain compatibility, and noted that ASTER had become the second-largest holder of BSC-USDT after Binancetitle1^[1]. Arkham Intelligence data revealed that ASTER's wallet held $131 million in USDT, while Binance's hot wallet held $236 milliontitle1^[1]. This validation from CZ, coupled with YZi Labs' development of the decentralized derivatives platform, added credibility to the project and differentiated it from speculative tokenstitle1^[1].

The ASTER token's origins trace back to 2021 as ApolloX, a decentralized derivatives exchange. A rebrand in late 2024, merging with Astherus, led to the launch of Aster. During this transition, the original APX token was swapped for ASTER, rewarding early supporters. One investor's APX position of $226,000 transformed into over $7.7 million post-conversiontitle1^[1]. The platform now competes with Hyperliquid, the leading decentralized derivatives exchange, though Hyperliquid reported $12.8 billion in 24-hour trading volume compared to Aster's $3.67 billiontitle1^[1]. Despite this gap, Aster's hidden order functionality and 1001x leverage appeal to professional traderstitle1^[1].

Market dynamics have further fueled ASTER's momentum. On-chain data revealed significant token inflows into Binance wallets, sparking speculation about a potential listingtitle3^[3]. CZ's praise for the platform's hidden order feature and multi-chain support coincided with these inflows, amplifying community interesttitle3^[3]. Additionally, ASTER's trading volume surged to $793 million in 24 hours, surpassing Hyperliquid's $462 million and securing a spot in the top six decentralized exchanges by volumetitle4^[4]. However, concerns persist regarding token distribution, as six wallets reportedly control over 96% of the supply, raising questions about potential manipulationtitle4^[4].

Analysts remain cautiously optimistic about ASTER's trajectory. Prominent crypto trader Marcell suggested the token could reach $4, implying a 151% upside from its current leveltitle1^[1]. Meanwhile, on-chain activity, including whale transactions and leveraged positions, underscores sustained trading interest. For instance, a user known as CookerFlips generated $5 million in profit within three days by withdrawing 5.57 million ASTER tokenstitle4^[4]. Despite these developments, volatility remains a key risk, with some analysts warning of corrections if hype wanestitle2^[2].

The ASTER project's future hinges on its ability to maintain user growth and deliver on its roadmap. With CZ's ongoing association with YZi Labs and the platform's strategic focus on decentralized derivatives, ASTER aims to solidify its position in a competitive market. However, token holders must navigate challenges such as supply concentration and regulatory scrutiny while capitalizing on the momentum driven by endorsements and speculative demandtitle1^[1].