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Aster, a decentralized perpetuals exchange, saw its token price surge on Sunday after Binance founder CZ announced a major investment.
Author: Sahil Thakur
3rd November 2025 – Aster, a decentralized perpetuals exchange, saw its token price surge on Sunday after Binance founder Changpeng CZ Zhao announced a major investment. He shared on X that he had purchased just over two million Aster tokens, worth more than $2 million.
The token quickly reacted. It jumped from $0.91 to above $1.20 within an hour – a gain of over 30%. Although the price later cooled, it still held above $1.05 by the end of the day.
“I am not a trader. I buy and hold,” CZ said, signaling long-term support.
CZ’s support comes as Aster attempts to establish itself in the growing perpetuals market. Recently, the protocol reported more than $70 billion in seven-day trade volume, surpassing Hyperliquid.
However, not everyone accepts those figures at face value. In October, DefiLlama’s 0xngmi briefly removed Aster’s data due to concerns about unverifiable volume. While the data was later restored, doubts still linger.
DefiLlama is currently developing new methods to better verify Aster’s activity. Until then, questions remain about whether the reported growth is entirely organic.
Despite the price surge, some large traders took a bearish stance. Several whales opened massive short positions on Aster through Hyperliquid. One address opened a $25 million short at $1.18, later increasing it to $51 million using 3x leverage. Another added $18 million in short exposure.
These positions suggest that some investors expect the rally to fade. They may see the surge as hype-driven rather than sustainable.
This week’s excitement also follows another major event. On October 23, former U.S. President Donald Trump granted Zhao a full pardon. CZ had served a four-month sentence after pleading guilty to violating U.S. banking laws.
The pardon triggered a fresh wave of optimism in the market. Aster rose sharply, climbing to $1.07, while Binance’s BNB token jumped over 5% to $1,123.
White House Press Secretary Karoline Leavitt commented that the case had been part of the Biden administration’s broader crackdown on crypto. She added that the “war on cryptocurrency” is now over.
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Following CZ’s post and the pardon news, Aster’s daily trading volume surged 862% to $2.29 billion. Open interest in Aster derivatives rose 42.9% to $640.5 million. The market capitalization climbed past $2.5 billion.
However, the token still shows signs of volatility. It is down more than 10% over the past week and nearly 50% over the past month. The current momentum may not hold without stronger fundamentals or continued high-profile backing.
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