Aster’s trade exploded this week after Binance co-founder CZ Binance purchased $2 million worth of tokens, which actually triggered a 38% price surge in just a matter of hours. The crypto news comes as markets are facing a brutal $1.8 billion liquidation wave, with the altcoin rally standing out amid widespread losses across the board. CZ’s token buy sent ASTER from $0.91 all the way up to $1.28 within hours, and it’s demonstrating his influence even after he stepped down from Binance earlier this year.
Aster Trade Rockets After CZ’s $2M Token Buy
CZ announced on X that he had purchased around 2.09 million ASTER tokens at approximately $0.913 each using his own personal funds. The former Binance CEO had this to say:
“Full disclosure. I just bought some Aster today, using my own money, on @Binance. I am not a trader. I buy and hold.”
This Aster trade immediately sparked some massive volume, with trading activity surging over 1,100% to reach $2.3 billion. Total value locked in the Aster ecosystem actually hit $1 billion as the crypto news spread quickly across social media platforms and trading channels.
$1.8B Liquidation Wave Hits Markets Hard
The token buy occurred as broader markets were suffering severe losses. Over $1.8 billion in leveraged positions were liquidated, with Ethereum longs losing around $500 million and Bitcoin longs adding another $497 million to that. According to data from OKX, some single liquidation orders even reached nearly $48 million during the shakeout.
Despite this altcoin rally for Aster, most major assets actually plunged during this period. Bitcoin dropped over 7% below $100,000, while Ethereum fell about 13% down to $3,150. The Aster trade stood out as one of the few bright spots during the correction, which is pretty remarkable given the circumstances.
Also Read: Binance Founder CZ Explains Why The Crypto Market Is Down
Technical Analysts Eye Further Gains
Technical analyst Captain Faibik stated:
“$ASTER is Getting Ready for massive Bullish Rally so don’t miss the RIDE.”
His chart analysis shows a descending parallel channel on the 4-hour timeframe, and he’s projecting a breakout toward $2.80. CZ Binance described ASTER’s launch as a “strong start,” which is adding some credibility to these bullish predictions right now.
CoinDesk analysts noted that while the crypto news is positive, investors should remain cautious. They stated:
“Traders should be cautious due to high token supply, competition, and a narrative-driven price increase.”
ASTER’s max supply is 8 billion tokens, with over half being allocated to community incentives along with airdrops. The platform operates as a hybrid decentralized exchange that’s offering perpetuals and spot trading with features like hidden orders and high leverage options.
Also Read: BNB Surges Past $1,100 After Trump Pardons CZ—$1,300 in Sight
At the time of writing, the Aster trade maintains momentum at around $1.06, holding well above pre-announcement levels even despite some profit-taking. CZ Binance’s token buy continues sparking debate over whether ASTER can sustain its altcoin rally or if markets have already priced in the crypto news.