What happened?
Trading volumes for ASTER surged more than 1,100% in 24 hours after Binance’s former CEO Changpeng Zhao publicly bought Aster with his own money, sparking a credibility boost. The token popped about 36% from $0.92 to $1.26 before pulling back toward $1 as broader market sentiment turned negative. The move grabbed extra attention because DeFi analytics had been questioning Aster’s volume data, so CZ’s purchase changed the narrative overnight.
Who does this affect?
Retail traders and short-term speculators in ASTER are most affected since the CZ buy created big intraday liquidity swings that invite quick trading. Longer-term holders and DeFi observers are impacted too because a high-profile endorsement can shift perceived legitimacy and bring new capital into the project. Analytics firms, market makers, and other small-cap tokens also feel the ripple effects as attention and capital can quickly move between similar projects.
Why does this matter?
This matters because the endorsement and volume spike increase volatility and can either trigger a sustained rally if key support like $0.88 holds or a sharp sell-off if it fails. Upside scenarios (targets of $2 or even $10) become possible on renewed momentum, but the episode also raises pump-and-dump risk for late buyers in a thin market. More broadly, it shows how celebrity buys and token mechanics (like burns in projects such as Pepenode) can quickly reallocate liquidity and move sentiment across the crypto market.