What happened?
Aster, a Binance-based perpetual futures Decentralized Exchange (DEX), has seen its coin’s value surge more than 500% and its market cap rise to $400 million following endorsement from Changpeng Zhao, the former CEO of Binance. The increase in value has led to a surge in bullish Aster coin price predictions.
Who does this affect?
This development primarily affects current and potential investors in Aster, especially those who might be drawn by the coin’s significant growth and the backing from a reputable figure in the cryptocurrency world. Additionally, it affects other altcoins as Aster is seen as a competitor in the growing altcoin market.
Why does this matter?
The advancement matters because the surge in Aster’s popularity and value could impact the broader cryptocurrency market. Furthermore, it shows the influence that endorsements from major players in the crypto world can have on coin values, which can lead to significant market fluctuations.