Binance’s CZ Boosts ASTER Price with Over 11% Surge

Key Points

• ASTER token’s price has surged after Binance’s founder, CZ, purchased the token.
• CZ’s purchase and subsequent announcement led to an increase in ASTER’s trading price and volume.

ASTER Token’s Price Increase

ASTER, the token of Aster DEX, has seen a rise in its trading price despite the overall market volatility. This increase came about on November 2nd, following the announcement by CZ, the founder of Binance, that he had purchased the ASTER token through Binance.

CZ disclosed that he bought ASTER with his own funds via Binance and has no plans to sell in the foreseeable future. He stated that he is not a trader and typically buys and holds.

CZ’s ASTER Purchase

The average price at which CZ bought ASTER was over $0.91. He made additional purchases of ASTER at 21:31 on November 2nd, amassing nearly 610 ASTER tokens. At current prices, these tokens are worth approximately $653.

On November 3rd, CZ emphasized the decentralized nature of the world, noting that anyone can short, long, or hold Aster. He also mentioned that he bought some BNB in the first month of its TGE in 2017 and has held on to all his tokens, except for spending.

Following CZ’s announcement, the price of ASTER surged significantly, and it continues to trade in the green despite market volatility.

ASTER’s Price Surge

Before CZ’s announcement on November 2nd, ASTER was trading at around $0.91. Immediately after the announcement, the token’s price jumped above $1.2 and continued to rise, reaching $1.25 before settling at its current price levels.

At the time of writing, ASTER is trading at $1.07, with a market cap of over $2.15 billion, an increase of more than 11% in the past 24 hours.

The 24-hour volume of ASTER is $2.64 billion, an increase of over 1,110%. ASTER reached its all-time high (ATH) on September 24 at $2.42. With CZ’s backing, Aster DEX’s token could continue its upward trajectory, potentially reaching new ATHs soon.