Key Takeaways
Who is involved with Aster DEX from Binance?
Rumors are spreading that Changpeng Zhao (CZ), Binance founder, serves as an advisor for Aster DEX, guiding product and technical matters.
What has been the recent trading performance of $ASTER?
ASTER traded at $1.79 after a 7.18% dip in 24 hours. The token rallied nearly 90% this week, recovering from an earlier 30% correction.
The crypto community has been abuzz with speculation around Binance [BNB] founder Changpeng Zhao, widely known as CZ, and his involvement with the new decentralized perpetuals exchange, Aster DEX.
Aster, which launched its ASTER token just eleven days earlier on the 17th of September, has quickly made waves. It recorded $545 million in total value locked (TVL) and $1.7 billion in weekly trading volume.
As per rumors, the project, built on BNB Chain, includes former Binance employees and has secured a minority investment from Binance’s venture arm, YZi Labs.
Binance CZ defies Aster rumors
However, on the 28th of September, CZ took to Twitter Spaces to set the record straight. He emphasized that his role is strictly advisory and that neither he nor Binance officially backs the platform.
Despite Aster operating in the same ecosystem as Binance, CZ clarified that his involvement is limited to product and technical guidance.
CZ said,
“I only advise them on product and tech, and I do not advise them on regulatory issues. That’s not my scope, that’s not my specialty. I’m not a lawyer. I got into some trouble before with that. I’m just helping them.”
In a separate piece, he even clarified,
“Because I’m forced not to touch CEXs (Binance), now the decentralized ecosystem ( $ASTER) is getting more attention. It’s actually working pretty well, I’d say. And I think Aster has a fantastic future…”
Community reactions
A user noted,
“I have no reason to sell any of my 300,000 $ASTER tokens. CZ today confirmed on X Spaces that he’s a part of the $ASTER team. Buybacks are coming and $ASTER currently leads in Perp trading volume. My TP’s are set to $40.”
To which CZ replied,
“Not on the team, just an advisor.”
However, CZ did confirm that Aster includes a few ex-Binance employees and that YZi Labs holds a minority stake in the platform.
Source: CZ/X
Impact on ASTER
The price of Aster’s token has been volatile amid its recent surge, trading at $1.79 after a 7.18% dip in the past 24 hours, according to CoinMarketCap.
The token, however, experienced a remarkable week, rallying nearly 90% and recovering from an earlier 30% correction.
In fact, it ultimately highlighted strong market interest and trader activity around the newly launched decentralized exchange.
Aster’s recent surge highlighted its growing influence in the perp DEX space, outperforming Hyperliquid in trading volume and fees.
Even so, analysts stayed divided on its long-term prospects. Whale activity and the upcoming L1 chain launch, along with the 5th of October airdrop, continued to fuel market attention.
Whether ASTER can sustain this momentum amid competition and shifting market dynamics remains an open question for traders.