Aster price big pump 30%! CZ exposed holding 2.5 million dollars, triggering volume surge to 2 billion

On Sunday, the native Token price of the decentralized trading protocol Aster soared more than 30%. Binance co-founder CZ revealed that he currently holds Aster worth over 2.5 million USD, driving a significant rise in Aster's volume in the past 24 hours. Data from DefiLlama shows that its volume has increased from 224 million USD to over 2 billion USD.

CZ's First Public Purchase of Non-BNB Tokens Ignites the Market

(Source: X)

Binance co-founder CZ shared a screenshot showing he holds over 2 million Aster Tokens, and the price of Aster rose accordingly. On Sunday, CZ shared his wallet holdings on X and stated that he “bought some Aster on Binance today with his own money.” “I am not a trader; I buy and hold for the long term,” he added.

The reason this statement caused a stir in the crypto community is that this is the first time CZ publicly announced the purchase of a token other than BNB. A trader with the username “Gold” announced on X that he had built a position in Aster after CZ posted, explaining that this is the first time CZ announced the purchase of a token other than BNB. “The most influential figure in the cryptocurrency space, the founder of the largest cryptocurrency platform, CZ, announced that he acquired ASTER with personal funds. That's it. Don't overthink it,” they added.

CZ, as one of the most influential figures in the crypto industry, often has his investment decisions regarded as a market barometer. For the past eight years, CZ's publicly disclosed holdings have primarily concentrated on BNB, the native token of Binance. Now, he has publicly purchased other tokens for the first time, and this rare move has naturally triggered a strong reaction from the market. The logic for investors is simple: if CZ is optimistic about Aster, then this project must have something special.

According to CoinGecko data, after the announcement was made, Aster's stock price soared from $0.91 to a high of $1.26. As of the time of writing, its trading price is $1.22. This represents a rise of about 38% from the low point, and even calculating from the price when CZ posted, the rise exceeds 30%. Such a daily increase is relatively rare among large-cap Tokens, demonstrating the power of the CZ effect.

Privacy-focused cryptocurrency Zcash also experienced a similar rise last week, thanks to the endorsement of another influential figure in the field. Just hours after cryptocurrency entrepreneur Arthur Hayes predicted that the Token would eventually reach $10,000, Zcash rose by 30%. This “KOL shout-out effect” is not uncommon in the cryptocurrency market, but CZ's influence is clearly more significant.

Shortly after the price surged, CZ commented on the matter, saying: “It's a pity, I was hoping to buy some at a lower price.” This semi-joking remark shows that even CZ himself did not anticipate such a drastic market reaction. He also stated that aside from the Aster and BNB he bought eight years ago (which he still holds), he “does not often buy tokens.”

volume surged 10 times, market capitalization exceeded 2.5 billion USD

The post has led to a significant rise in Aster's volume over the past 24 hours, with data from the analytics platform DefiLlama showing that its volume has increased from $224 million to over $2 billion. This tenfold surge in volume is extremely rare and indicates a large influx of new capital into the market. The spike in volume not only drove up prices but also enhanced Aster's market visibility.

The market capitalization of the token has also grown in sync with other key indicators, rising from $1.8 billion to over $2.5 billion. The market cap growth from $1.8 billion to $2.5 billion signifies an increase of about $700 million. This figure, compared to the $2.5 million held by CZ, shows an amplification effect of approximately 280 times. This extreme leverage effect proves the tremendous influence of KOL endorsements in the crypto market.

CZ disclosed the changes in Aster market data after holding positions

Price increase: rose from $0.91 to a peak of $1.26 (38% rise)

Volume surge: from 224 million USD to over 2 billion USD (rise 10 times)

Market Cap Rise: Increased from $1.8 billion to over $2.5 billion (an increase of $700 million)

CZ Position Amplification Effect: A $2.5 million investment triggered approximately $700 million in market value rise (280 times)

This market reaction reveals the highly emotional characteristics of the crypto market. When well-known figures publicly disclose their holdings, retail investors often choose to blindly follow rather than make independent judgments based on the project's fundamentals. This “celebrity effect” can drive up prices in the short term, but it also sows the seeds of potential risk: once the sentiment wanes or the celebrity changes their stance, prices may quickly retreat.

Large holder bets against the trend with a $52.8 million short position

However, not everyone is convinced that this rise will continue. Two whales are shorting CZ and Aster, hoping for a price drop. Blockchain analysis platform Lookonchain stated on Sunday that a trader increased their Aster short position to 42.97 million tokens, worth 52.8 million dollars, with a liquidation price of 2 dollars.

Another trader also decided to short this rise, increasing their short position to 15.3 million Aster, worth 19.1 million USD, with a liquidation price of 2.11 USD. The shorting behavior of these two whales forms an interesting contrast. They clearly believe that the rise brought by CZ is driven by short-term sentiment rather than fundamental improvement, and thus chose to go against the trend and short.

This kind of whale showdown adds drama to the Aster market. On one hand, CZ's $2.5 million buy and “long-term holding” statement inject confidence into the market. On the other hand, a total of over $70 million in short positions shows that some large holders are skeptical about this rise. The liquidation prices are $2 and $2.11 respectively, meaning if the Aster price continues to rise and breaks through these levels, shorts will face forced liquidation, potentially triggering a short squeeze and further pushing up the price.

The Historical Connection Between CZ and Aster

In September, CZ congratulated Aster, stating that he believes the project has a good start and encourages developers to “keep building,” despite some questioning how closely CZ is linked to the project. It is known that CZ's family office YZi Labs invested in Aster's predecessor Astherus last year. Aster was formed by the merger of Astherus and the decentralized sustainable coin protocol APX Finance at the end of 2024.

In September, a representative from BNB Chain told the media that Aster received support from BNB Chain and YZi Labs, but did not reveal whether CZ was directly involved. This ambiguous relationship has been the focus of market speculation. Now CZ has publicly disclosed his personal holdings, clarifying that he is indeed optimistic about this project and is willing to invest with personal funds (rather than institutional funds).

This clarification is significant for Aster's long-term development. It upgrades Aster from a “project possibly related to CZ” to a “project personally endorsed by CZ.” This distinction is crucial in the crypto market. Many projects claim to have the “support” of well-known individuals or institutions, but often it is vague cooperation or symbolic investments. CZ's public disclosure of holdings serves as a clear and verifiable endorsement.

However, investors also need to remain rational. CZ's statement “I am not a trader, I buy and hold for the long term” conveys a long-term optimistic message, but this is his personal investment decision and does not constitute investment advice. The fundamentals, technical strength, and market competitiveness of Aster still require independent evaluation by investors. Blindly following KOLs to buy without conducting due diligence is a major taboo in crypto investment.