Aster jumps 12% intraday… Changpeng Zhao's 2.5 million dollars investment impact

Decentralized exchange (DEX) 'Aster (ASTER)' is showing intraday strength. The token's price is believed to have surged after Changpeng Zhao, Binance co-founder, said he bought the token with personal funds.

As of 12:53 PM on the 3rd (KST), Aster is trading at 1.07 dollars, up 11.88% from the previous day on CoinMarketCap.

According to crypto-focused media Cointelegraph, Changpeng Zhao posted his wallet holdings on X (formerly Twitter), stating, "I bought Aster on Binance today with my own money." Immediately after this remark, Aster's price rose over 30% from 0.91 dollars to 1.26 dollars.

Aster is the first token Changpeng Zhao has publicly purchased since Binance Coin (BNB).

However, some large investors sold. According to Lookonchain, one whale shorted 42.97 million Aster (52.8 million dollars), and another shorted 15.3 million Aster (19.1 million dollars). The liquidation prices for the two positions are 2 dollars and 2.11 dollars, respectively.

Aster was formed at the end of last year through the merger of perpetual futures protocol APX Finance and Astherus. Changpeng Zhao's family office YZi Labs (formerly Binance Labs) invested in Astherus in 2024, and the BNB Chain also supports Aster.