Key Highlights
- Coinbase has added Aster to its Assets Roadmap, according to an official statement
- This announcement comes when the token price soared 13.3% in a day
- A few days ago, Binance’s founder, Changpeng Zhao, revealed his holdings in Aster tokens
One of the leading cryptocurrency exchanges, Coinbase, has officially added Aster to its Assets Roadmap. The announcement, made on November 8, indicates an affirmative decision to pursue a full listing on the exchange.
The roadmap update enhances transparency, as Coinbase only adds that it has vetted for compliance, security, and long-term potential, according to the report.
What is Aster?
Aster is a decentralized exchange, or DEX, that operates across multiple blockchain networks. Its main focus is on perpetual and spot trading for cryptocurrencies. The platform is built on its own foundational layer, the Aster Chain, a privacy-oriented blockchain developed with the support of YZi Labs.
While native to its own chain, the platform also supports major networks, including BNB Chain, Ethereum, Solana, and Arbitrum, allowing for broad accessibility.
The exchange is designed with advanced traders in mind, offering a suite of features to enhance the experience. It promises an MEV-free trading environment, which protects users from a specific form of value extraction common to other platforms.
Its Pro Mode includes sophisticated tools like hidden orders and grid trading. Furthermore, Aster allows users to post yield-bearing assets as collateral, making capital use more efficient.
Fueling the entire Aster ecosystem is the ASTER token. This token serves several critical functions. It grants holders governance rights, allowing them to vote on proposed upgrades and fee structures for the platform. To support the ecosystem’s long-term health, a portion of the tokens is used for activities like buybacks and providing liquidity.
The tokenomics of ASTER are structured with a total supply of 8 billion tokens. Of this total, 2 billion are in initial circulation. A significant 25% of the total supply is dedicated to community airdrops, highlighting a focus on decentralized ownership.
The remaining tokens are subject to vesting schedules, a mechanism intended to gradually release them into the market and minimize sell pressure.
According to CoinMarketCap, the Aster token is trading at around $1.12 with a 12.61% surge and a market capitalization of $2.23 billion.
CZ’s Revelation Sends Aster Token Soaring
The value of the Aster token experienced a surge, climbing over 30% in a short period. This sharp increase followed a major market announcement from one of the industry’s most influential figures.
Binance co-founder Changpeng Zhao, known as CZ, publicly revealed he had taken a personal two-and-a-half-million-dollar stake in the project. This direct endorsement from a crypto leader of his stature triggered an immediate buying frenzy, with traders worldwide rushing to participate in the rally and pushing the price to new heights.
The event was set in motion when CZ shared a screenshot of his digital wallet on the social media platform X. The image clearly showed he had acquired over 2 million tokens. He clarified that this was a personal investment made with his own funds on the Binance exchange.
In a statement that resonated across the market, CZ affirmed, “I am not a trader. I buy and hold.” The significance of this move can not be overstated. This marks the first time in 8 years that CZ announced a personal investment in a token other than BNB, making his public support an exceptionally rare event.
Trading activity went into overdrive, with the token’s 24-hour volume exploding from $803.36 million.
The connection between CZ and the Aster project appears to have a history. His family office, known as YZi Labs, was an early investor in Astherus, which was a predecessor to the current platform. The Aster that exists today was formed from a merger between Astherus and APX Finance in late 2024. CZ has previously communicated with the development team, encouraging them to keep building.
