Aster Airdrop Buoys ASTER Rally and Drives Record Volume
Aster is a multi-chain perpetual DEX launched in September 2025 after the merger of Astherus and APX Finance and backed by Binance co-founder CZ’s venture arm. It supports spot and perpetual trading with up to 1,001× leverage across Ethereum, Solana, BNB Chain and Arbitrum, offering dual modes (MEV-protected Simple Mode and advanced Pro Mode), hidden orders and yield-bearing collateral. On 17 September, Aster issued its ASTER token in a record airdrop, distributing 53% of supply to 330,000 wallets. ASTER surged over 2,000% from its $0.08 debut to a $2.42 peak, lifting Aster’s market cap above $2.25 billion and driving a 24-hour volume near $42 billion with daily fees over $25 million. However, a technical glitch triggered abnormal liquidations, and DefiLlama flagged near-identical XRP volumes, raising wash-trading concerns as six wallets now control 96% of ASTER. Traders must weigh rapid growth, high leverage and whale risk ahead of the planned Aster Chain launch.
Bullish
The record airdrop, 2,000% price rally and unprecedented $42 billion trading volume underscore strong market demand for ASTER token, signalling bullish trader sentiment and platform adoption. High leverage and CZ backing further support short-term momentum. However, technical glitches and wash-trading flags, along with 96% supply concentration in six wallets, introduce significant counter-party risk that may cap gains or trigger volatility. Overall, the net effect is bullish due to broad usage and liquidity growth, but traders should remain vigilant for sudden corrections driven by whale activity.