Aster (ASTER) Price Prediction: DEX Token Could Hit $3 After 7,000% CZ-Backed Rally
TLDR
- ASTER token exploded 7,000% from $0.02 to $2 peak following CZ endorsement
- Six wallets control 96% of token supply, raising market manipulation concerns
- Aster DEX flipped Hyperliquid with $793 million daily trading volume
- Whale investors earned millions as token reached $3.3 billion market cap
- Price predictions suggest continued volatility with potential for new highs
The Aster token launched on September 17 at just $0.02. Within four days, ASTER price skyrocketed over 7,000% to reach $2 on September 21.
This explosive rally pushed ASTER’s market capitalization to $3.3 billion at its peak. The token has since pulled back to $1.60, maintaining a market cap around $2.64 billion.
Binance founder Changpeng Zhao endorsed the project through social media posts. His backing highlighted Aster’s multi-chain support and hidden order trading features.
Following CZ’s endorsement, major exchanges scrambled to list ASTER. Bitget and Bybit added spot trading pairs while DEX platforms across BNB Chain, Ethereum, Solana, and Arbitrum began supporting the token.
The platform’s unique hidden order system allows traders to execute positions without revealing them to the broader network. This feature reduces front-running risks and limits price manipulation opportunities.
Supply Control Drives Price Action
Market analysts have identified concerning token distribution patterns. Reports indicate just six wallets hold or control over 96% of ASTER’s circulating supply.
Some sources claim Binance controls 95% of the 1.65 billion tokens currently in circulation. This concentrated ownership has sparked allegations of potential market manipulation.
Crypto trader Cyclop noted the project lacks working products to justify its current valuation. However, he argued that controlled supply by trusted parties creates bullish conditions.
The inability to short ASTER maintains upward price pressure. This dynamic allows project backers to influence price direction through strategic supply management.
Whale tracking firm Lookonchain documented several large investor bets. Influencer CookerFlips withdrew 5.57 million ASTER tokens after depositing $1.24 million, generating approximately $5 million profit.
World Liberty Financial advisor Ogle opened leveraged long positions worth $357,000 in unrealized gains. He previously realized nearly $1 million in profits from earlier ASTER trades.
Trading Volume Surge
Aster’s decentralized exchange experienced massive growth in daily volume. Data shows the platform processed $793 million in 24-hour transactions, surpassing Hyperliquid’s $462 million.
This surge moved Aster into the top six DEX platforms by daily volume. Weekly trading reached $1.79 billion, though still below Hyperliquid’s $5.78 billion seven-day total.
The platform’s multi-chain architecture supports native trading across multiple blockchain networks. CZ specifically praised this functionality compared to other perpetual DEX designs.
Aster Price Prediction
Technical analysis suggests ASTER could target $3-5 levels if current momentum continues. The token’s limited supply and institutional backing provide fundamental support for higher prices.
However, concentration risks and manipulation allegations create downside volatility potential. Price predictions range from bearish scenarios around $0.50 to bullish targets above $10.
Short-term predictions focus on the $1.80-2.20 range as key resistance levels. Breaking above $2.50 could signal continuation toward the $3 psychological milestone.
Current trading patterns show strong whale accumulation despite pullback concerns. The platform’s growing DEX volume provides organic demand for the native token.
