Aster Surges as Binance Founder Changpeng Zhao Discloses Multi-Million Dollar Stake

Aster’s token skyrocketed more than 30% on Sunday after Binance co-founder Changpeng “CZ” Zhao revealed he had personally bought over $2.5 million worth of the asset, igniting a frenzy among traders and speculators.

In a post on X, CZ shared a screenshot of his wallet and confirmed that the purchase was made “using my own money on Binance.” He emphasized that he wasn’t trading the token, saying simply, “I buy and hold.” His post immediately sent Aster’s price climbing from $0.91 to a high of $1.26 before settling near $1.10, according to CoinMarketCap data.

The revelation unleashed a surge in market activity. DefiLlama data shows Aster’s trading volume jumped nearly tenfold within 24 hours, from $224 million to over $2 billion, while its market cap expanded from $1.8 billion to roughly $2.5 billion.

Traders quickly followed CZ’s lead. One prominent trader known as “Gold” announced on X that they had opened a new position in Aster, calling CZ’s move a strong signal. “The most influential figure in crypto just announced buying ASTER with personal funds. That’s it. Don’t overthink it,” they wrote.

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However, not everyone shared the enthusiasm. Blockchain analytics firm Lookonchain reported that at least two whales had taken sizable short positions against Aster following the rally. One shorted nearly $53 million worth of tokens with a liquidation level around $2, while another bet $19 million on a similar decline.

CZ later joked that he “was hoping to buy more at lower prices,” adding that this was the first time in years he had publicly disclosed purchasing a token besides BNB, which he still holds from its 2017 launch.

Aster’s recent rise follows growing attention around its origins. The project emerged from a 2024 merger between Astherus – a firm backed by CZ’s family office, YZi Labs (formerly Binance Labs) – and decentralized perpetuals platform APX Finance. While CZ congratulated Aster’s team in September and encouraged them to “keep building,” Binance representatives have not confirmed any direct involvement from him.

Whether the latest spike represents genuine long-term momentum or a short-lived reaction to CZ’s influence remains to be seen — but for now, Aster’s weekend rally underscores just how much power one post from crypto’s most recognizable figure can have.