A low-cap token just got the classic “CZ effect.” ASTER, the token of the Aster decentralized trading project, spiked by as much as 38% on November 2–3 after Changpeng “CZ” Zhao, the founder and former CEO of Binance, posted on X that he had bought the token on Binance with his own money. Forklog first flagged the move, noting how quickly traders rushed in once CZ made the disclosure.
In his post, CZ wrote: “Full disclosure. I just bought some Aster today, using my own money, on @Binance. I am not a trader. I buy and hold.” He also attached a screenshot that appeared to show 2,090,598 ASTER in his account—valued at just under $2 million when he clicked buy. That single message was enough to light up trading dashboards, push ASTER to a two-week high, and remind the market that CZ’s personal endorsements still move prices even after he stepped down from Binance.
Why the market cared so much
Three ingredients made the jump so violent:
- Big name, small cap. When a figure as followed as CZ talks about a token that doesn’t yet have deep, stale liquidity, price moves get exaggerated. Order books thin out, market makers widen spreads, and late buyers end up paying up.
- Clear, personal commitment. CZ didn’t say “interesting project.” He said “I bought,” on Binance, with his own money, and restated his “buy and hold” philosophy—something he’s repeated about BNB over the years. That’s an unusually unambiguous signal.
- On-chain and CEX visibility at the same time. Data from RootData and OKX showed ASTER pushing through $1.18–$1.20 with intraday gains above 27% within roughly an hour of his post, lining up with the spike CEX traders saw.
Put simply: a popular founder said “I bought this right here,” and traders copied him.
What is ASTER?
According to coverage from CryptoPotato and CryptoNews, ASTER is the native token of a decentralized exchange / trading platform branded Aster, focused on spot and perp trading. It launched only weeks ago and has been trading mostly on Binance, which gave it immediate visibility that most new DEX tokens never get. That early listing, plus CZ’s earlier “keep building” shout-out, had already created a following for the project. Saturday’s disclosure supercharged it.
Because ASTER is still new, its token distribution is relatively concentrated and the order book isn’t as thick as majors—conditions where a $2 million buy, or even the idea of one, can create a fast, vertical candle.
Context: CZ’s influence hasn’t gone away
Even after legal troubles in the U.S. and his 2024 sentencing, CZ remains one of the most followed people in crypto. His X posts are routinely picked up by price bots, Telegram trading groups, and market-data sites. That’s why the ASTER rally was almost instantaneous: every desk that tracks his feed saw the same screenshot at the same time. And because he framed the purchase as personal rather than a corporate or strategic investment, it carried a “skin in the game” message that retail likes.
It’s worth remembering this comes days after another wave of ASTER volatility—when accounts on X falsely claimed that CZ had dumped more than $30 million of the token. He called the rumor “fake news,” and blockchain investigators later confirmed the transfers were internal Binance wallet moves. That whiplash—first FUD, then a clear buy—may have amplified Saturday’s upside as traders tried to get back in line with him.
What traders should watch now
- Sustainability of the pump. Even at +30–38%, ASTER was already giving back small chunks of the move, trading closer to $1.20 than the intraday peak above $1.30, according to CryptoPotato’s chart. That’s typical “announcement volatility”: once the first wave buys, profit-taking and bots fade the spike.
- Follow-through volume on Binance and OKX. If the move is going to stick, volume has to stay elevated into the next session. A fast collapse in volume would signal this was mostly copy-trade flow, not long-term positioning.
- What CZ does (or doesn’t) say next. Because he framed himself as a holder—“I buy and hold”—any sign he’s moving tokens again will get microscope treatment, just like the debunked dump rumor.
- Broader market tone. The pump came on a busy weekend for crypto, with BTC and majors chopping after the Fed. If majors roll over, thin-liquidity altcoins like ASTER tend to retrace faster.
Why this story matters beyond one token
This episode is another clean example of personality-driven price discovery in crypto. A token with a few weeks of history, a fresh listing, and active social channels jumped almost 40% purely on the strength of a single investor’s tweet. That’s useful context for anyone trading smaller assets:
- Headlines can outpace fundamentals.
- Screenshots of balances move markets.
- Verification—on-chain, in CEX transaction histories, or from multiple reputable outlets—is still essential before reacting.
The takeaway
ASTER’s near-40% leap isn’t about a new partnership or a protocol upgrade. It was a visibility event: the market learned that the industry’s most recognizable founder had put nearly $2 million of his own money into the token, and traders rushed to mirror him. For now, the project gets exactly what young protocols crave—liquidity, chart attention, and a spot in the weekend news cycle. The harder part starts next: keeping ASTER trading on fundamentals, not just on CZ’s timeline.