CZ’s $2.5M Aster Buy Sparks 30% Surge and Volume Spike
Binance co-founder Changpeng “CZ” Zhao personally invested $2.5 million to acquire Aster tokens, driving the price from $0.91 to a peak of $1.28—a 30%+ surge within minutes. Trading volume rocketed from $224 million to over $2 billion in 24 hours, while self-reported seven-day volume spiked above $70 billion before DefiLlama flagged it for verification. Market cap climbed from $1.8 billion to $2.5 billion. Retail traders opened new long positions following CZ’s lead, even as whales placed significant short orders anticipating a pullback. CZ likened this move to his first BNB purchase in 2017 and plans to buy more Aster at lower levels. Separately, Senator Elizabeth Warren reaffirmed her 2023 AML conviction comments, rejecting Zhao’s defamation claims. Traders should watch Aster’s volatility, volume scrutiny, and potential corrections amid ongoing bullish momentum.
Bullish
CZ’s high-profile $2.5 million Aster purchase ignited a rapid 30% price rally and unprecedented volume surge, demonstrating strong bullish sentiment. The spike attracted retail follow-through longs, while significant short positions signal anticipated pullbacks. In the short term, aggressive buying by a market influencer underpins upward momentum. Longer term, sustained support depends on transparent volume verification and CZ’s continued conviction at lower price levels. Overall, the move heightens Aster’s volatility but sets a bullish tone for its price trajectory.