On-chain tracker Lookonchain has flagged heavy whale activity in ASTER, the native token of decentralized exchange Aster. In the past 24 hours, three major wallets moved a combined over $10 million worth of tokens, suggesting big players are circling the project soon after its launch.
The largest came from 0x04EA, which pulled out 7.04 million ASTER ($4.66 million) about 13 hours ago. Another wallet, 0xe1Da, withdrew 5.1 million tokens ($4.1 million) roughly 10 hours ago. A third, 0x841D, first deposited 2.22 million APX ($2.22 million), then swapped it out for ASTER worth $2.11 million just a couple of hours later.
These movements suggest whales are still active around the token, possibly holding on to their positions rather than selling off quickly.
From Launch to Rally
Aster is a new decentralized perpetual exchange that launched in July on the BNB Chain. It is backed by YZi Labs (previously Binance Labs) and supported by PancakeSwap. The exchange lets users trade crypto with leverage, putting it alongside other DeFi trading platforms.
Its token, ASTER, was introduced only on September 18, but trading has been fast. Within hours of going live, the price jumped more than 300%. This followed months of activity through the Aster Genesis program, where the team handed out 704 million ASTER tokens via an airdrop to early users.
Market Snapshot
ASTER is currently priced at $0.937, up about 58% in the past day. Its market cap is $1.55 billion, while 24-hour trading volumes are near $708 million, up 76% from the previous day.
Much of this rise comes from new exchange listings and speculation. On September 19, OrangeX introduced a 25x ASTER perpetual contract, drawing in leverage traders. Rumors of an APX-to-ASTER swap have also helped. Mentions from Binance founder Changpeng Zhao (CZ) on social media have added more attention.
On Thursday, Hyperliquid listed ASTER with up to 3x leverage. The exchange did caution about low liquidity and volatility, but the move still brought more traders in.
Early Growth Numbers
In its first day after launch, Aster saw $345 million in trading volume, over $1 billion in total value locked (TVL), and more than 330,000 new users. Even CZ highlighted the growth, calling it one of the strongest debuts of the year.
The Road Ahead
Whales are shifting tokens, new exchanges are listing ASTER, and trading activity keeps climbing. The token has built strong momentum in just a few days, but the real test is whether Aster can hold onto this growth in an already crowded DeFi market.
Disclaimer: The information provided here is for informational purposes only and should not be considered financial advice. Cryptocurrency investments carry risk, and you should do your own research before making any decisions.
