Aster, the rebranded derivative platform token, experienced a significant price surge following the revelation that Binance founder Changpeng Zhao (CZ) had personally invested in the project. This disclosure, shared via a post on X, triggered widespread market speculation and revitalized investor interest in the token. CZ explicitly stated that he acquired Aster tokens using his own capital on Binance and underscored his commitment to a "buy and hold" strategy.
His announcement rapidly garnered substantial attention within the cryptocurrency community, leading to an immediate 30% increase in the token's price. After a recent decline of nearly 50% within a single month, the asset climbed to a multi-week high of $1.25 before experiencing a slight moderation.
CZ Confirms Aster Purchase and Expresses Long-Term Faith
CZ officially disclosed his purchase on November 2, sharing a screenshot from his Binance account that depicted approximately 2.09 million Aster tokens. These tokens were acquired at a price of roughly $0.91 each, amounting to a total investment of approximately $2 million. The founder of Binance conveyed his long-term confidence in Aster's ecosystem, drawing a parallel to his initial acquisition of BNB.
Following his statement, trading activity on major exchanges saw a notable increase. Both transaction volume and wallet activity associated with Aster experienced a sudden rise. Market analysts indicated that CZ's declaration had a significant impact on market sentiment, with investors interpreting it as a strong endorsement of credibility.
The Aster team recently concluded the rebranding of its former derivative platform tokens, including APX, and successfully relaunched them in September 2025 through a token generation event. The total supply of Aster tokens is capped at 8 billion, with over 50% allocated towards community incentives, such as airdrops and rewards.
The platform operates as a hybrid decentralized exchange (DEX), offering functionalities for both spot and perpetual trading. It includes advanced tools like high-leverage options and hidden orders, and it supports multiple blockchain networks. CZ commended the project's underlying structure, characterizing its launch as a "strong start."
Aster's core development efforts have been concentrated on enhancing its tokenomics and ensuring long-term sustainability. On October 31, the project introduced a new buyback and airdrop model. This plan involves burning half of the tokens acquired through buybacks in earlier phases, with the remaining half being locked for future user rewards. This model is designed to improve long-term price stability while simultaneously reducing the overall token supply.
Whales Initiate Short Positions Amidst Rally
Despite the surge in retail investor enthusiasm, a contrasting trend emerged among large traders. Reports indicate that two significant whales opened a combined total of $71 million in short positions against Aster shortly after CZ's investment announcement.
Data provided by Lookonchain identified one whale who established a $52.8 million short position on Hyperliquid, a decentralized perpetual exchange. This position was leveraged at 3x and currently holds 42.97 million Aster tokens, with a liquidation price approaching $2.09. A second trader, identified by Whale Insider, deposited 3.8 million USDC to initiate another short position valued at $18.45 million. Collectively, these two whales hold over $71 million in short exposure against Aster's price.
As these positions were established, market data suggests that speculative trading activity intensified. The price volatility of Aster following CZ's purchase was accompanied by a notable increase in open interest. Some market analysts interpreted the short activity as a strategic hedge against potentially overextended long positions, rather than a direct challenge to the ongoing rally.
CZ's involvement continues to be the primary catalyst driving Aster's momentum this week. His established history of supporting early-stage projects has frequently influenced market confidence and dictated short-term price movements.
Currently, Aster has captured significant attention within the decentralized finance (DeFi) sector. Traders are closely monitoring its capacity to maintain its upward trajectory above the $1 mark. Future developments within the Aster ecosystem, alongside broader market sentiment, are expected to play a crucial role in determining whether the current rally is sustained or if a correction occurs.