Aster Token Goes Flying After Cz Reveals $2.5m Personal Stake

Aster pumped after Binance co-founder Changpeng Zhao shared a screenshot showing that he holds over 2 million Aster tokens.

The native token for the decentralized exchange protocol Aster spiked over 30% on Sunday after Binance co-founder Changpeng “CZ” Zhao disclosed that he now holds over $2.5 million in Aster.

CZ shared his wallet holdings in an X post on Sunday, and said he bought “some Aster today, using my own money on Binance.”

The post prompted Aster to jump from $0.91 to a peak of $1.26, according to CoinGecko. At time of publication, it was trading at $1.22.

The post led to a notable jump in Aster’s trading volume over the last 24 hours, with data from analytics platform DefiLlama showing it has risen from $224 million to over $2 billion.

The tokens market capitalization has also grown in step with its other key metrics, rising from $1.8 billion to over $2.5 billion.

A trader under the handle “Gold” announced on X that they had opened a position in Aster after CZ’s post, explaining it was the first time CZ had ever announced buying a token outside of BNB.

“CZ, the most influential figure in crypto and creator of the largest platform in crypto announced his purchase of ASTER with personal funds. That’s it. Don’t overthink it,” they added.

Soon after the spike, CZ addressed the situation and said, “damn, I was hoping to buy some more at low prices,” and that he doesn’t “buy tokens often,” other than Aster and BNB eight years ago, which he still holds.

Not everyone is convinced that the rally will last, though. Two whales are betting against CZ and shorting Aster in the hope that the price will go down.

Source: CoinTelegraph