The post Binance founder champions Aster amid impressive token surge appeared on BitcoinEthereumNews.com.

Binance founder Changpeng Zhao has backed Aster (ASTER), a new decentralized derivatives platform that aims to challenge Hyperliquid’s dominance in the sector. In a Sept. 19 post on X, Zhao revealed that Aster had become the largest holder of BSC-USDT, apart from Binance’s own hot wallet. According to Arkham Intelligence data, Aster’s wallet holds $131 million in USDT, trailing Binance’s $236 million. That update came just one day after he praised the project’s Token Generation Event (TGE), describing it as a strong beginning and urging its developers to continue building. His visible support added momentum to a token launch already drawing industry-wide attention. What is Aster? Aster first launched as ApolloX in 2021 before merging with Astherus in late 2024, marking its rebrand and new direction, culminating in this week’s TGE. This event allowed ApolloX’s APX holders to swap their tokens for ASTER, rewarding long-time investors who had waited for the transition. Aster is backed by YZi Labs, a venture capital firm associated with Zhao. That structure, combined with Zhao’s backing, helped fuel investor enthusiasm. According to CryptoSlate’s data, ASTER jumped more than 800% this week to $0.81593, with its market capitalization climbing to $1.3 billion. Meanwhile, the ripple effect extended across the market, with APX also rallying over 600% during the reporting period. Blockchain analytics firm Lookonchain highlighted that one early APX backer saw their $226,000 stake grow into more than $2 million following the merger and token conversion. Decentralized derivatives Beyond investor enthusiasm, Aster has quickly positioned itself among the largest decentralized derivatives platforms. Data from DeFiLlama shows the platform processed $1.4 billion in trading volume within 24 hours of its launch, ranking it among the most active exchanges in the sector. However, the scale of competition is stark, with Hyperliquid, its main rival in the sector, handling…

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Filed under: News - @ September 20, 2025 12:24 am