Asset management firm Galaxy Digital has transferred another 2 million ASTER tokens, valued at roughly $3 million, to Binance.
The transfer was reported by blockchain analytics account The Data Nerd, which cited data from Arkham Intelligence. The transaction took place only hours before the report was published.
Over $68 Million Moved in a Week
The latest transfer brings Galaxy Digital’s total ASTER deposits for the past week to 40.8 million tokens, amounting to roughly $68.28 million.
Despite the sizable outflow, the company’s associated wallet still holds 31.9 million ASTER, currently worth around $47.21 million.
Galaxy Digital has not issued any official comment confirming the transactions or explaining the purpose behind these movements.
Transfer Follows Crypto Market Turmoil
The transfers follow a turbulent week for the global cryptocurrency market. Last Friday, the sector suffered steep losses, with traders liquidating more than $19 billion in positions. Some digital assets saw their values collapse by over 90% within minutes.
ASTER, the native token of the fast-expanding Aster perpetual DEX, was among those heavily impacted. Its price plummeted 40.43%, sliding from $1.8464 to $1.10. The token has since rebounded, trading around $1.53 at press time, up nearly 14% in the past 24 hours.
Binance Listing and the Seed Tag Warning
ASTER was listed on Binance on October 6, carrying a Seed Tag that flags innovative yet high-risk projects. The label serves as a caution to traders. It requires them to complete a risk awareness quiz every 90 days before engaging in spot or margin trading for such assets.
Aster Chain and Future Developments
The Aster project continues to evolve under the leadership of CEO Leonard Aster, who last month confirmed that the team is developing its own Layer-1 blockchain, named Aster Chain.
The network is currently in internal testing. It aims to deliver privacy-first architecture, low transaction fees, and sub-second finality while integrating built-in perpetual contracts.
Aster also intends to initiate a token buyback program to support long-term holders. While specifics remain under review, the CEO described buybacks as the “most direct way to return value to the community.”
Ex-Binance CEO Backs ASTER
The Aster project gained early momentum through public endorsements from Changpeng Zhao (CZ), the former CEO of Binance, who repeatedly promoted the token on his official X (formerly Twitter) account.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.