TL;DR
- Binance listing: ASTER debuted on Binance with USDT, USDC, and TRY pairs under a seed tag, highlighting both opportunity and volatility as the exchange urged caution for early-stage tokens.
- CZ endorsement: Changpeng Zhao publicly praised the DEX on X, contrasting it with Hyperliquid’s lack of privacy safeguards, which positioned the project as a potential alternative in the DEX sector.
- Market skepticism: Despite recovering above $2, the exchange faced doubts after DeFiLlama flagged $96B in daily activity as inflated, prompting concerns of wash trading and forcing the DEX to launch VIP incentives.
Aster made history today, after getting its native token, ASTER, listed on Binance and receiving a public nod from Changpeng Zhao. However, despite the endorsement and an initial price recovery, the token remains under heavy pressure from investors who questioned its trading volumes and sustainability after the hype ends.
Binance brings ASTER to market
Binance confirmed ASTER’s spot listing on October 6, opening trading pairs against USDT, USDC, and TRY. Deposits began earlier in the day, with withdrawals scheduled for October 7. The listing was accompanied by a seed tag, a designation Binance reserves for early-stage tokens that often face sharp volatility. The exchange reminded users to exercise caution, noting that seed-tagged assets can deliver both outsized gains and sudden losses.
CZ’s endorsement fuels attention
The token’s debut on Binance was heightened by Changpeng Zhao‘s personal support. He congratulated the project on X, stating, “Well done, good start, keep improving,” alongside an image from the DEX. His comments seemed to distinguish Aster above Hyperliquid, which he has been critical of, for the protocol’s lack of privacy safeguards. Zhao’s public nod could potentially position the exchange as the go-to alternative in the competitive DEX sector, sparking speculation about its long-term role.
Price recovery meets skepticism
Following the listing, the token recovered above $2, briefly touching $2.31. Optimists projected a possible rally toward $4, but momentum stalled as concerns surfaced over inflated trading volumes. DeFiLlama excluded Aster DEX from its dashboard after reporting $96B in daily activity, surpassing major centralized exchanges. The discrepancy raised fears of wash trading and undermined confidence in the project’s organic growth.
Aster DEX pivots with incentives
To continue attracting new customers, Aster DEX announced a new VIP-tier program meant for large traders and market makers. The program includes features like adjusted fee structures and a monthly reward pool in ASTER tokens of up to $300,000. The platform generated significant on-chain metrics in September; however, its liquidity still lagged behind Hyperliquid. The incentive program and Binance’s listing aim to increase user participation as the DEX deals with doubts over reputational risks and questionable volume data.
