CZ Binance has thrown his weight behind a new decentralized exchange, Aster, which is already making waves in the market.
Backed by CZ-affiliated YZi Labs (formerly Binance Labs), BNB Chain’s leading DEX PancakeSwap, and other major players, Aster positions itself as a multi-chain perpetual and spot venue designed to compete directly with Hyperliquid.
Within six hours of going live, Aster’s token ($ASTER) reached over $300 million market cap, after rising from a launch price of $0.08 to a high of $0.2181, delivering investors over 130% gains on its debut.
Source: CoinMarketCapCZ Binance Backing Fuels Aster Multi-Chain DEX Launch Frenzy
The platform reported rapid user traction, building on a months-long Genesis campaign that accumulated hundreds of thousands of wallets and over $514 billion in trading volume.
As part of its launch strategy, Aster announced a large-scale community airdrop of 704 million tokens, representing around 8.8% of the total 8 billion supply.
Unlike many single-chain competitors, Aster emphasizes a multi-chain model, with support planned across BNB Chain, Ethereum, Solana, and Arbitrum.
The platform offers both spot and perpetual markets with leverage options and features designed to mitigate MEV risks, including hidden orders and advanced trading modes.
With CZ’s influence and support from key Binance-linked entities, Aster has been receiving retail interest and institutional backing to become the new launch that could shake up the on-chain derivatives trading market.
For the first time, known for only posting Binance token $BNB or Bitcoin charts, CZ was seen posting an $ASTER chart today, adding that the Aster team is brilliantly executing the launch.
Similarly, in June, when Aster came to X to announce its institutional-grade liquidity for $BTC perps in a post that put Aster’s order book features in direct comparison to Hyperliquid, Binance, and Bybit.
CZ reacted to the post, saying “Binance level liquidity on Aster” is now available in the crypto market.
A few days later, Zhao complained about how traders with malicious intent can manipulate and liquidate other traders on on-chain DEXs due to public access to sensitive information like liquidation prices.
This issue was highlighted when popular Hyperliquid trader James Wynn was liquidated multiple times.
Why Analysts Bet on 10X ASTER Rally
Not long after his complaint, Zhao posted that the Hidden Order feature had been implemented by Aster, which led many crypto market participants to speculate that the DEX is owned by CZ.
Now, many crypto alpha traders are backing Aster to have similar success to previous projects that CZ has backed.
Like BNB, which surged from $0.09 in 2017 to over $962, CZ’s track record includes more recent wins.
Many crypto analysts point to the MYX Finance DEX project, which was backed by CZ and delivered a 1000% rally in just 3 days.
Crypto analyst Crypto Thannos has now urged investors to buy some $ASTER and wait until October when token withdrawals go live and possible Binance exchange listing and other tier-1 exchange listings come along.
Some other analysts are now dubbing ASTER as the “Chinese Hyperliquid” and project that at the current price of $0.20 and an FDV of $1.5B, the Aster token can embark on a 10X rally that would put it at $15B FDV and would still be a fraction of Hyperliquid’s $55 billion valuation.
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