For the past few days, the decentralized platform Aster has been the focus of attention for crypto investors. And with good reason, as its ASTER token has skyrocketed since Changpeng Zhao mentioned it on the X network. Is this a real phenomenon or just a flash in the pan?
Aster’s TVL approaches $700 million
Sometimes it doesn’t take much to send the price of a cryptocurrency skyrocketing. The latest example is the brand new ASTER token associated with the decentralized spot trading and perpetual contract platform Aster, already presented as a direct competitor to the very popular Hyperliquid (HYPE).
The reason for this surge? A simple, laconic tweet from the founder of the Binance cryptocurrency exchange platform, Changpeng Zhao, dated September 17 on the X network. Since then, the TVL of this protocol implemented on the BNB Chain has continued to increase, to the point where it now stands at $675 million.
This increase of more than 80% in just 48 hours mirrors the price of the ASTER cryptocurrency, which has also risen by more than 500% since its launch. Its price is currently around $0.60, compared to less than $0.10 on September 17.
But after the speculative euphoria of the early days, the question now arises as to the actual relevance of this surge. And the least we can say is that the presence of Changpeng Zhao (CZ) in this equation is heating up tempers, especially since he removed the “ex-Binance” reference from his X account.
A project by Changpeng Zhao?
Indeed, speculation is rife about the involvement—or even creation—of the Aster platform by the former CEO and founder of Binance. And with good reason, as the exchange is currently in talks with US regulators to have the sanctions imposed on it lifted, such as the forced removal of CZ.
As a result, the launch of the Aster platform could coincide with his announced return to the cryptocurrency sector, while at the same time triggering a direct offensive against the current dominance of its competitor Hyperliquid. However, it is important to note that none of this has been confirmed or denied by the person concerned.
The only reliable source is that the Aster project has received support from BNB Chain and YZi Labs, a venture capital firm managed by Binance’s two co-founders, Changpeng Zhao and Yi He, but it is impossible to know whether CZ has actually been involved in its development.
According to data from the DefiLlama website, the volume of activity recorded on the Aster DEX has increased significantly in recent days, with the daily amount rising from $4.5 million to $450 million between September 16 and 19. This now makes it the number one perpetual DEX on the BNB Chain.
