Binance founder Changpeng Zhao has supported Aster (Aster), a new decentralized derivatives platform aimed at challenging Hyperliquid’s advantage in the sector.
In a September 19th post on X, Zhao revealed that Aster has become the biggest owner of BSC-USDT, except for Binance’s own hot wallet.
According to Arkham Intelligence Data, Aster’s Wallet holds $131 million in USDT, tracking Binance’s $236 million.
That update came a day after he praised the project’s Token Generation Event (TGE), describing it as a powerful beginning, urging developers to continue the building.
His visible support has given momentum to the launch of tokens, which have already attracted attention from the industry as a whole.
What is Aster?
Aster first launched as Apollox in 2021, then merged with Astherus in late 2024, marking its brand and new direction, culminating in TGE this week.
The event allowed Apollox APX owners to exchange tokens for Aster, rewarding longtime investors who were waiting for the transition. Aster is backed by Yzi Labs, a venture capital firm associated with Zhao.
That structure, combined with Zhao’s support, helped fuel the enthusiasm of investors.
According to Encryption Data, Aster rose more than 800% this week to $0.81593, with market capitalization rising to $1.3 billion.
Meanwhile, the Ripple effect has expanded across the market, with APX rising by more than 600% during the reporting period.
Blockchain analytics firm Lookonchain highlighted that one early APX backer will grow to over $2 million in stock following the merger and token conversion.
Dispersional Derivatives
Beyond investor enthusiasm, Aster quickly sits on the largest decentralized derivatives platform.
Defillama’s data shows that the platform has processed $1.4 billion in trading volume within 24 hours of launch, ranking it as the sector’s most active exchange.
However, the scale of the competition, along with Hyperliquid, the sector’s main rival, handles about $10 billion over the same period.
The disparity illustrates Aster’s difficult challenge, despite Zhao’s support and early trading data giving the project a stronger foothold than most newcomers.
