The decentralized exchange token saw a sharp price rebound as investor confidence surged following reports of a multi-million token purchase by Binance founder Changpeng Zhao.
ASTER Price Jumps Amid High-Profile Buy
The ASTER token surged nearly 20% on Saturday after reports emerged that Binance founder Changpeng “CZ” Zhao had acquired 2 million ASTER tokens, sparking renewed optimism across the market. The move triggered a wave of speculative buying and pushed the token price above key resistance levels, breaking out of a long-term downtrend visible on 4-hour trading charts.
Analysts say the breakout was supported by high trading volume, signaling strong participation from both retail and institutional traders. “A purchase by a figure like CZ often serves as a psychological catalyst,” said crypto strategist David Lin. “It reinforces the belief that the project could have long-term potential.”
Technical indicators suggest resistance near the $1.45–$1.60 range, where previous selling pressure emerged, and support around $0.85–$0.90, marked by recent consolidation zones.
ASTER’s Strategic Rebranding and Market Position
ASTER, a rebranded derivatives platform token launched in September 2025, has a maximum supply of 8 billion tokens, with more than half allocated to community incentives and airdrops. The project markets itself as a hybrid decentralized exchange (DEX) offering perpetual and spot trading across multiple blockchains, integrating advanced features such as hidden orders and high-leverage options.
CZ reportedly praised ASTER’s launch as a “strong start,” fueling additional attention from traders. On-chain data shows that ASTER’s treasury wallet has accumulated significant USDT holdings, ranking among the largest non-exchange addresses on BNB Chain.
Analysts Urge Caution Amid Speculative Hype
While the rally reflects strong short-term sentiment, experts caution that ASTER’s high token supply and intense competition from rival DEX platforms could limit sustained upside. “The fundamentals have yet to catch up with the hype,” explained blockchain researcher Ilya Novak. “With narrative-driven gains, profit-taking risk remains high once early excitement fades.”
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.