The Aster token launch caused Aster’s TVL to spike to roughly $2 billion briefly and boosted 24‑hour trading volume to about $434 million, triggering speculation about Changpeng “CZ” Zhao’s involvement while BNB Chain and YZi Labs ties were confirmed.
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Aster’s TVL spiked to $2B then fell back to the $300–$700M range
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24‑hour trading volume surged to roughly $434M, ranking Aster among active DeFi derivatives platforms
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BNB Chain and YZi Labs publicly supported Aster; CZ congratulated the project, prompting community speculation
Aster token launch lifts Aster TVL briefly to $2B; check trading stats and ecosystem links. Read analysis and key takeaways from COINOTAG.
After Changpeng Zhao congratulated it on X, community members speculated that the Binance co-founder could be behind the Aster project.
BNB Chain‑based decentralized perpetuals exchange Aster briefly crossed $2 billion in total value locked (TVL) Thursday after launching its native token, before falling back sharply, according to DefiLlama data.
The surge that followed the project’s Aster (APX) token launch proved short‑lived, ending the day near $545 million TVL. At the time of writing, Aster’s TVL recovered to roughly $655 million on Friday, still above its pre‑launch range of $300–$400 million.
The launch also drove heightened trading activity, with Aster recording approximately $434 million in 24‑hour volume, making it one of the most active decentralized derivatives venues that day. Despite the momentum, Aster remains behind established rivals such as Hyperliquid on several metrics.
DefiLlama’s comparative figures show Hyperliquid with about $670 million TVL, $800 million in daily trading volume and $15 billion in open interest; Aster’s reported open interest was approximately $3.72 million at the same snapshot.
Aster’s TVL drops to $1.9 billion after briefly hitting $2 billion on Thursday. Source: DefiLlama
What happened to Aster TVL after the Aster token launch?
Aster token launch triggered a rapid TVL spike to about $2 billion, then a sharp decline back toward prior ranges; the immediate effect was a surge in trading activity and short‑term liquidity inflows. This reflects token distribution dynamics and speculative trading around new token listings.
How did community reactions and CZ’s comment shape speculation?
Changpeng “CZ” Zhao posted a congratulatory message on X, writing “keep building.” The public comment fueled community claims that CZ might be directly involved with Aster. Some users cited profile changes and perceived motives related to rival Hyperliquid’s growth.
However, regulatory restrictions since 2024 bar CZ from managing Binance operations; he has described himself as “just a community member and a BNB holder.” That context tempered claims of operational control but did not stop social speculation.
Community reports included user complaints about withdrawals and platform functionality, while supporters pointed to YZi Labs and BNB Chain mentorship as legitimate ecosystem ties. Official statements indicate Aster received incubation support, mentorship, and marketing and technical resources.
Source: Tulip King
Why does Aster have ties to BNB Chain and YZi Labs?
Aster’s connection to the Binance ecosystem is documented through YZi Labs (formerly Binance Labs) investment and incubation. In late 2024, YZi Labs disclosed an investment in Aster’s predecessor and provided mentorship and ecosystem access as part of an incubation program.
The BNB Chain representative described Aster as the leading perpetual DEX on the chain and signaled continued support, emphasizing derivatives as a core DeFi capability.
“Derivatives are a crucial part of any DeFi ecosystem. We will keep supporting Aster, and we look forward to seeing more perpetual protocols emerge and grow to further enrich BNB Chain’s ecosystem.”
Source: CZ
Frequently Asked Questions
Did CZ found or run Aster after his congratulations on X?
No. CZ’s public congratulation prompted speculation but does not constitute proof of operational control. CZ is subject to restrictions that prevent managing Binance, and official records indicate YZi Labs invested in Aster’s predecessor.
How large was Aster’s 24‑hour trading volume after the token launch?
Aster logged roughly $434 million in 24‑hour trading volume following the token launch, temporarily placing it among the highest‑volume DeFi derivatives platforms that day.
Is Aster now the largest perpetual DEX on BNB Chain?
BNB Chain representatives stated Aster is the top perpetual DEX on the chain. However, on absolute metrics such as open interest and volume, competitors like Hyperliquid reported larger figures at the same time.
Key Takeaways
- Rapid TVL movement: Aster’s TVL spiked to ~$2B then corrected to $545–$655M, showing volatility tied to token listings.
- High trading activity: ~$434M 24‑hour volume highlighted strong short‑term interest in Aster’s markets.
- Ecosystem backing: YZi Labs and BNB Chain provided investment and incubation support, lending institutional credibility.
Conclusion
The Aster token launch produced a clear but short‑lived liquidity surge and major trading volume, prompting community debate about possible ties to Changpeng Zhao. Documented support from YZi Labs and BNB Chain strengthens Aster’s ecosystem credentials, but platform metrics show it still trails larger rivals. Monitor TVL, volume, and on‑chain open interest for the next phase of adoption.
