Particle.news

Download on the App Store

Aster Token Drops One-Third From Peak as Trading Frenzy Persists

CZ's backing plus rapid listings fueled a breakneck debut now facing questions over concentrated holdings.

Overview

  • ASTER trades near $1.57–$1.60 after sliding roughly 33% from around $2, rebounding from a low near $1.33 on September 22, according to CoinGecko data.
  • Reported 24-hour turnover approaches $2 billion across venues, while DefiLlama shows $793 million in Aster DEX volume on September 21 that briefly surpassed Hyperliquid.
  • The token’s market value stands near $2.6 billion after a peak close to $3.3 billion, based on CoinCentral’s estimates.
  • CZ highlighted multi-chain support and hidden “shadow zone” orders, and listings followed on exchanges such as Bitget and Bybit, with perpetual futures now offered on major platforms.
  • On-chain trackers cite highly concentrated ownership — including reports of six wallets holding over 96% of supply and allegations Binance controls most circulating tokens — prompting manipulation concerns.