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Sujha Sundararajan
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Sujha Sundararajan
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Binance founder Changpeng Zhao (CZ) announced on X that he bought more than $2 million of DEX ASTER tokens, triggering speculative demand.
CZ announced on Sunday that it bought the Aster protocol token using its own money on Binance. “I’m not a trader. I buy and hold,” he wrote.
On-chain data shows that ASTER’s wallet has earned large sums of USDT, becoming one of the largest on the BNB chain. Also, Per LookOnChain, two whales increased their short positions in the asset.
“Both whales shorting ASTER are currently in profit – 0x9eec9 is up $5.9 million, while 0xbadb is up $1.4 million,” Lookonchain posted.
Separately, a whale had pulled $5.58 million of ASTER tokens from Binance, Onchain Lens said. “In the last 6 days, he withdrew $6.8M ASTER, worth $6.66M, from Binance,” he added.
ASTER Token rises 20% after recent crash
Aster (ASTER) is one of the hottest Web 3.0 projects on the market. It offers perpetual and perpetual futures trading with 1001x leverage and hidden orders.
The DEX token saw an 11% drop last monthwith the total value of Aster locked (TVL) falling by almost 25% since October 10.
According to the research, the almost instant success of the DEX is due to approve. The highly influential crypto-billionaire tweeted “keep building,” posting an image of the Aster platform last month.
With CZ’s recent purchase of the protocol’s native token, ASTER rose from $0.91 on Sunday to a peak of $1.26, for Data from CoinMarketCap. At the time of publication, the token was trading at $1.
CZ’s recent purchase comes weeks after US President Donald Trump granted him a pardon after months of efforts by Zhao to strengthen the Trump family’s crypto company.
Zhao pleaded guilty in November 2023 to fail to maintain an effective anti-money laundering program at Binance.
