Binance Founder “CZ” Drops Bombshell On Aster DEX After 2,000% Rally, Here’s What He Said
Binance founder Changpeng “CZ” Zhao has defined his position in Aster DEX following the two,000% rally of the DEX’s native token. This additionally follows his earlier endorsements of the decentralized change, which has offered elevated competitors to the likes of Hyperliquid.
Binance Founder CZ Explains Role In Aster DEX
CZ talked about in an X space that he serves as an advisor for the Aster DEX, advising them explicitly on product and expertise, however not on regulatory points. He additionally revealed that some former Binance staff at the moment are working for the DEX. The Binance founder opined that Aster is a really sturdy venture.
Meanwhile, CZ additionally famous how the Aster DEX has stayed near the BNB Chain ecosystem, which he admitted has helped BNB. Notably, the BNB price rallied to new highs amid the decentralized change’s emergence within the highlight over the previous few weeks. CZ talked about that Aster did exceptionally nicely of their token era occasion (TGE).
During the X house, CZ mentioned how he’s focusing extra consideration on the BNB chain and initiatives just like the Aster DEX, as he’s now not in command of Binance following the settlement with U.S. authorities, which required him to step down as CEO as a part of the settlement. Meanwhile, it’s value mentioning that CZ’s household workplace, YZi Labs, has a minority stake in Aster.
Before now, CZ had overtly endorsed Aster DEX on a number of events. On one event, he shared the Aster token chart and recommended the workforce whereas urging them to maintain constructing. At the time, the token was buying and selling at simply round $0.17. Since then, Aster has recorded a rally of round 2,000%, reaching an all-time high (ATH) of $2.4 within the course of.
On one other event, CZ stated that the Aster DEX wasn’t a BNB Chain unique perp DEX and that it helps a number of chains natively. He added that the DEX additionally helps hidden orders, which he famous makes it totally different from different perp DEX designs. Trading privateness on DEXs is one thing that the Binance founder has advocated for following the James Wynn saga, through which the notorious dealer misplaced round $100 million on Hyperliquid trades that have been seen to everybody.
Aster Ranks Second In Fees
DeFiLlama data exhibits that the Aster DEX has generated the second-largest charges within the final 24 hours and 7 days, trailing solely USDT issuer Tether. The DEX has earned $14.33 million within the final 24 hours and $69.56 million within the final seven days. The team has confirmed plans to conduct buybacks, which might seemingly be carried out with these charges generated.
However, Aster DEX nonetheless trails behind when it comes to DEX buying and selling quantity. Further data from DeFiLlama exhibits that the DEX is twelfth when it comes to 24-hour buying and selling quantity, though it ranks greater based mostly on the 7-day trading volume, recording $3.3 billion in buying and selling quantity during the last week.
At the time of writing, the Aster token is buying and selling at round $1.92, up over 4% within the final 24 hours, in line with data from CoinMarketCap.
