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Aster Soars on CZ Backing as On‑Chain Liquidity Signals Challenge to Hyperliquid

CZ’s posts alongside Arkham data vaulted the new perp DEX into the spotlight after its token launch.

Overview

  • CZ said Aster became the largest BSC‑USDT holder apart from Binance’s hot wallet, with Arkham showing about $131 million in USDT versus Binance’s roughly $236 million.
  • ASTER jumped roughly 800%–1,000% in its first week and briefly topped $1, lifting its market capitalization to about $1.3–$1.6 billion.
  • The project secured rapid listings on Binance Alpha and Futures as well as MEXC, Gate.io, and HTX following CZ’s public backing.
  • On‑chain metrics highlighted rapid uptake, with reports citing roughly 2 million users and hundreds of billions in cumulative trading volume, while DeFiLlama tracked about $1.4 billion in day‑one volume versus Hyperliquid’s roughly $10 billion.
  • Despite the surge, Hyperliquid remains far larger at about $18.9 billion in market value, and Aster’s concealed limit‑order feature is prompting questions about transparency.