$1T ASTER Rally Fuels Buzz Over Imminent Binance Listing

On-chain trackers have detected a series of ASTER deposits into Binance spot wallets and everyone is speculating about the upcoming...

Quick overview

  • On-chain trackers have identified significant ASTER deposits into Binance wallets, sparking speculation about an upcoming listing.
  • Binance founder Changpeng Zhao praised ASTER's features, contributing to a price surge of over 1,500% in a week.
  • ASTER has achieved impressive trading metrics, processing over $42 billion in 24-hour volume and generating $15 million in daily fees.
  • High-profile endorsements from figures like MrBeast and Donald Trump are expected to boost demand if ASTER is listed on Binance.

On-chain trackers have detected a series of ASTER deposits into Binance spot wallets and everyone is speculating about the upcoming listing on the biggest exchange. Data shows an initial test transfer of 20 ASTER tokens and then a massive $4.8 million transaction. Traders are saying this is Binance’s usual pre-listing procedure where small test deposits and withdrawals are done before official support is rolled out.

The speculation got more intense after Binance founder Changpeng Zhao (CZ) publicly praised ASTER. He mentioned its hidden order feature and compatibility with multiple chains. CZ also said ASTER is one of the largest holders of BSC-USDT outside of Binance’s own wallets. After that ASTER’s price went up more than 1,500% in a week.

ASTER’s Trading Growth

ASTER has become a big player in decentralized perpetual trading. In just 2 weeks since its launch, the platform processed over $42 billion in 24 hour trading volume and over $1 trillion in cumulative transactions. Its fee structure generated around $15 million in daily protocol revenue – more than many established decentralized exchanges.

CoinGlass data shows open interest in ASTER increased 7.57% to $1.2 billion. Analysts say this is a sign of high trader confidence and strong speculative momentum. They believe this is because ASTER has a competitive advantage in liquidity and scalability compared to other DeFi projects.

Key stats:

  • $42 billion in 24 hour trading volume
  • $1 trillion in less than 2 weeks
  • $15 million in daily protocol fees
  • 7.57% increase in open interest to $1.2 billion

High Profile Backers and Market Outlook

ASTER’s rise has attracted high profile investors and public figures. MrBeast, a popular YouTuber, has accumulated ASTER worth over $1.5 million. Blockchain records linked to former US President Donald Trump’s wallet shows he owns 55 million ASTER tokens valued at $112 million. With these endorsements, institutional and retail demand could accelerate if Binance lists ASTER.

Analysts are optimistic. Crypto Sheriff said ASTER’s chart “already looks very bullish” and could reach $5 by end of October. With trading milestones, big endorsements and strong inflows, ASTER’s trajectory is fueling debate on its long term potential in the global crypto space.

ABOUT THE AUTHOR See More
Arslan Butt
Lead Markets Analyst – Multi-Asset (FX, Commodities, Crypto)
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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