Aster cryptocurrency experiences a surge of over 600% in value post Token Generation Event (TGE) and receives endorsement from Changpeng Zhao, securing significant upward momentum.
In the ever-evolving world of cryptocurrency, a new player has emerged, capturing the attention of investors and industry experts alike. Aster, a decentralized perpetual exchange based on the BNB Chain, has been making waves in the market.
Despite the founder or leader of Aster remaining unidentified in available search results, the project has managed to secure a significant milestone: the New York BitLicense. This licence, issued by the New York State Department of Financial Services, is a testament to Aster's commitment to compliance and its potential to operate in one of the world's most stringent regulatory environments.
Aster's success story began with an initial launch price of $0.16, which quickly rallied nearly 675% to an all-time high of $1.27 within nine hours. This rapid rise has placed Aster as the second-largest perpetual DEX globally, having processed over $500 billion in cumulative trading volume.
The project has also garnered the support of Changpeng Zhao, the former CEO of Binance, who shared a chart of Aster's token on X, drawing fresh attention to the project. CZ, as he is popularly known, noted on Sep. 17 X post, "Well done! Good start. Keep building!"
The success of Aster has not gone unnoticed by the crypto community. A growing number of investors are betting that Aster could replicate the success of other projects previously backed by CZ, such as MYX Finance, which delivered a 1,500% rally within two days of its launch.
Pseudonymous analyst Crypto Thannos has urged his followers to accumulate ASTER and hold until October, when token withdrawals go live and potential listings on Binance and other tier-1 exchanges could serve as major catalysts.
Amidst this exciting development, the broader cryptocurrency market is also seeing positive movements. The Bitcoin price has rallied above $117K, and the first 2025 Fed rate cut has boosted sentiment. At press time, Aster's price has settled at $0.70, offering a potential entry point for those interested in this promising project.
As Aster continues to grow and evolve, it will be interesting to see how it navigates the complex landscape of the cryptocurrency market and whether it can indeed replicate the success of other projects backed by CZ.
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