Binance-Driven ASTER Swap Sparks APX's $7M Meteoric Rise

A crypto investor who accumulated 3.62 million APX tokens in 2022 for $226,000 has seen their holding surge to over $7 million following the launch of the APX-to-ASTER token swap. According to Arkham Intelligence data, the wallet (0x9d22) now holds assets valued at $7.07 million as APX prices climbed from below $0.07 in 2022 to approximately $1.95 at the time of writing. The token’s 120% surge in the past 24 hours pushed its market capitalization to $827 million and daily trading volume to $79 million, marking an 8,000% gain from its 2022 lowAPX Holder Turns $226K Into $7M Amid ASTER Swap Surge^[2].

The price rally was primarily driven by the activation of the token swap, which allows APX holders to exchange their tokens for ASTER, the native token of the Aster protocol. The swap window opened with incentives for early participants, including declining exchange rates over five time periods. Binance suspended APX trading on September 19 to facilitate the transition, automatically converting APX tokens held by Binance Alpha usersAster (ASTER) Surges Over 100% Following Token Swap^[1]. This move, coupled with the token’s rebranding from Apollo, catalyzed immediate demand and liquidity inflows.

Binance’s former CEO, Changpeng Zhao (CZ), amplified the momentum by sharing Aster’s price charts on X, praising the project’s performance and encouraging further adoption. His endorsement, though non-explicit, significantly boosted investor sentiment and on-chain activity. The token’s price briefly touched an all-time high of $1.98 on September 21APX Holder Turns $226K Into $7M Amid ASTER Swap Surge^[2], while Aster’s total value locked (TVL) spiked to $2 billion before retreating to $545 millionAPX Holder Turns $226K Into $7M Amid ASTER Swap Surge^[2].

Whale accumulation played a critical role in sustaining the rally. Data from Nansen revealed that large holders purchased approximately 1.7 billion ASTER tokens in three days, with one whale transaction alone involving 3.59 million ASTER tokens worth $2.11 millionAster (ASTER) Surges Over 100% Following Token Swap^[1]. On-chain activity surged as well, with total users climbing to 1.8 million and daily new users reaching 53,000, indicating growing organic demand and network adoptionAster (ASTER) Surges Over 100% Following Token Swap^[1].

Market metrics underscore the token’s explosive growth. Aster’s price surged 105% to a new all-time high of $0.78 before retracting to $0.65, while its market capitalization jumped 51% to $1.3 billion. Trading volume increased by 25% to $400 million, reflecting heightened capital inflowsAster (ASTER) Surges Over 100% Following Token Swap^[1]. APX, meanwhile, recorded a 400% surge following the announcement of the ASTER token and swap, driven by speculation and institutional support from Binance-linked Yzi Labs.

The token swap has positioned Aster as a competitive decentralized exchange (DEX) in the perpetual futures market. While Hyperliquid maintains a larger share of trading volume and open interest, Aster’s integration with BNB Chain and Arbitrum, along with its high-yield liquidity pools, has attracted significant attentionAPX Holder Turns $226K Into $7M Amid ASTER Swap Surge^[2]. Binance’s mentorship and technical support through its incubation program further validate the project’s potential, with a BNB Chain spokesperson labeling it the top perpetual DEX on the chainAPX Holder Turns $226K Into $7M Amid ASTER Swap Surge^[2].