Decentralized perpetuals exchange Aster saw its token price skyrocket on Sunday after Binance founder Changpeng “CZ” Zhao announced he had personally purchased over $2 million worth of the token. The move immediately reignited investor interest in the exchange, once again demonstrating Zhao’s significant influence on crypto markets.
CZ’s Endorsement and Immediate Impact
- Personal Investment: CZ disclosed his purchase on X (formerly Twitter), stating, “I am not a trader. I buy and hold,” and confirming the investment was made with his own money on Binance.
- Price Surge: Within an hour of the post, the Aster token, which was trading around $0.91, climbed past $1.20, leading to a significant surge in trading volume as followers mimicked his trade.
- Backing: The exchange is already backed by YZi Labs, Zhao’s family office, making his personal investment a strong endorsement.
Aster’s Meteoric Rise and Scrutiny
Aster has emerged as a key player in the rapidly growing perpetuals market in 2025.
- Volume Leadership: The platform recently reported processing over $70 billion in transactions over a seven-day period, surpassing rival Hyperliquid in reported trade volumes.
- Volume Concerns: These high self-reported figures have faced scrutiny. 0xngmi, the founder of DefiLlama, briefly delisted Aster’s data earlier this year, citing suspicion and difficulty verifying the reported numbers, though DefiLlama has since relisted the data under a new tracking system.
CZ’s Return to the Spotlight
The rally is tied to the renewed public presence of CZ, who recently received a presidential pardon from U.S. President Donald Trump on October 23, following his conviction and prison sentence for violating U.S. banking laws.
- Political Context: White House Press Secretary Karoline Leavitt declared the pardon marked the “war” on cryptocurrency being “over.”
- Prior Gains: Following the pardon, both Aster and Binance’s BNB token saw immediate gains (Aster to $1.07 and BNB up 5% to $1,123), reflecting renewed investor confidence in projects associated with Zhao.
Sunday’s latest surge reaffirms the powerful connection between CZ’s actions and the performance of projects he supports, suggesting his public comeback may drive a broader market revival for associated tokens.
November 2025, Cryptoniteuae
