Aster Surges After CZ’s Announcement About the Purchase
- CZ confirmed buying 2.09M Aster tokens on Binance, sparking a sharp 30% surge in its market price.
- Aster’s rebrand and buyback model boosted investor optimism, lifting its token above $1 mark.
- Despite the rally, whales opened $71M in short positions against Aster following CZ’s buy.
Aster, the rebranded derivative platform token, soared after Binance founder Changpeng Zhao (CZ) revealed a personal investment in the project. The disclosure, shared through a post on X, ignited a wave of market speculation and renewed investor interest. CZ stated that he bought Aster using his own funds on Binance and emphasized his “buy and hold” approach.
His post immediately gained widespread attention in the crypto community, which caused the token’s price to spike by 30%. Following a recent decline of almost 50% in a single month, the asset rose to a multi-week high of $1.25 before easing slightly.
CZ Confirms Aster Purchase
CZ disclosed the purchase on November 2, posting a screenshot of his Binance account showing approximately 2.09 million Aster tokens. The tokens were purchased for about $0.91 each, totaling roughly $2 million. The founder of Binance expressed long-term faith in Aster’s ecosystem by comparing the move to his initial purchase of BNB.
Following his announcement, trading activity spiked across major exchanges. Transaction volume and wallet activity associated with Aster suddenly increased. Analysts pointed out that CZ’s statement significantly influenced sentiment, with investors viewing it as a mark of credibility.
Aster’s team recently completed rebranding previous derivative platform tokens, such as APX, and relaunched them in September 2025 through a token generation event. The total supply is capped at 8 billion tokens. More than 50% is allocated to community incentives such as airdrops and rewards.
The platform functions as a hybrid decentralized exchange (DEX) with features for both spot and perpetual trading. It incorporates tools like high-leverage options and hidden orders and supports several blockchains. CZ praised the project’s structure and called its launch a “strong start.”
Aster’s core updates have focused on tokenomics and long-term sustainability. On October 31, the project introduced a buyback and airdrop model. The plan calls for burning half of the buybacks from earlier stages. The remaining half will be locked for future user rewards. The model seeks to improve long-term stability while lowering supply.
Whales Bet Against the Rally
While retail enthusiasm surged, large traders moved in the opposite direction. Two major whales reportedly opened a combined $71 million in short positions against Aster shortly after CZ’s disclosure.
Data from Lookonchain identified one whale who opened a $52.8 million short position on Hyperliquid, a decentralized perpetual exchange. The position used 3x leverage and now holds 42.97 million Aster tokens, with a liquidation price near $2.09. A second trader, identified by Whale Insider, deposited 3.8 million USDC to open another short worth $18.45 million. Combined, both whales hold over $71 million in short exposure against Aster’s price.
Related: Aster Vs Lighter Vs Hyperliquid: The Race for On-Chain Dominance
According to market data, as these positions developed, speculative trading grew more intense. Aster’s price volatility after CZ’s purchase was accompanied by a sharp increase in open interest. Some analysts saw the short activity as a hedge against overextended long positions instead of seeing it as a direct challenge to the rally.
CZ’s involvement remains the defining factor driving Aster’s momentum this week. His history of supporting early-stage projects has often influenced market confidence and short-term price movements.
For now, Aster stands at the center of attention in the DeFi sector. Traders are keeping an eye on its ability to sustain momentum above $1. Future developments in the ecosystem and general market sentiment will probably determine whether the rally continues or corrects.
