Aster News Today: CZ's Pardon Thaws Crypto Market, ASTER Rises 20%

The price of Aster (ASTER), a native token of the no-KYC on-chain perpetual trading platform, has surged in recent days, driven by renewed optimism in the crypto market following the U.S. pardon of Binance founder Changpeng Zhao (CZ). ASTER rose by 20% in a 24-hour period, climbing from $0.94 to $1.13, according to data from TradingView. The rally coincided with a broader rebound in the Binance ecosystem, as the exchange's native token, BNB, added 4% in the same timeframe.

The surge was catalyzed by President Donald Trump's decision to pardon CZ, a move analysts say signals a thaw in regulatory tensions for the crypto industry. "The pardon has revived bullish sentiment across the Binance ecosystem," one analyst noted, adding that ASTER's price action reflects a "flight to quality" among CZ-backed projects. The platform, which competes with decentralized exchanges like Hyperliquid, has long benefited from CZ's public endorsement, including his support during its initial launch.

Aster's recent momentum was further bolstered by an announcement from the platform itself. The exchange revealed plans to allocate 70-80% of its Season 3 trading fees toward ASTER token buybacks, a move designed to stabilize its price and reward holders. While the exact allocation will depend on market conditions, the buyback program has already spurred positive sentiment, with over 10 million ASTER tokens withdrawn from exchanges as investors anticipate long-term value.

The token's performance contrasts with earlier volatility. Just weeks prior, ASTER had joined other altcoins like Bittensor (TAO) and Mantle (MNT) in leading a $770 million liquidation event, as bearish momentum pushed prices below key support levels. However, the pardon of CZ and subsequent regulatory clarity have shifted the narrative, with investors now viewing ASTER as a potential beneficiary of the crypto industry's ongoing normalization.

Meanwhile, the broader crypto market remains in flux. Kraken, one of the largest U.S. crypto exchanges, reported a 114% year-over-year revenue increase in Q3, reaching $648 million, as it prepares for an anticipated IPO. The firm's performance underscores growing institutional interest in crypto infrastructure, though it also highlights the sector's inherent volatility.