Binance‘s founder, CZ, remains one of the most prominent names in the crypto world, where every move he makes captures significant attention. Despite having to step away from the management of Binance following a U.S. lawsuit, rumors persist on social media about ongoing efforts for the pardon of his penalties. Concurrently, CZ is actively working full throttle on the BNB ecosystem, with Aster Coin being the latest example of his endeavors.
Aster Coin and CZ
On the launch day, CZ showcased his unequivocal support by sharing the project’s chart, ensuring the new initiative made a substantial impact. Backed by Binance and aspiring to become the next Hyperliquid, the platform attracted significant interest. The altcoin‘s price rose swiftly, sparking some analysts to dream of even larger double-digit numbers.
The co-founder of Binance, CZ, noted, “I have to say this at the risk of taking a risk,” in a new post about Aster Coin. He succinctly explained why the coin is enticing and why the protocol is expected to draw even greater attention.
“At the risk of stating an obvious fact; Aster’s transaction fees are lower (cheaper for users). Lower fees mean higher volume.”
CZ did not share this comment without reason. A user named Elja alluded to a platform competing with HYPE, prompting CZ to explain the primary reason for attention. With fee revenues reaching $99.93 million in 30 days, Aster surpassed Hypeliquid, which accrued $84.8 million in the same period. Remarkably, Aster achieved this level with roughly one week’s volume, and CZ’s intent was to clearly imply that it was “better than Hyperliquid.”
Aster Coin Commentary
The open support of Binance’s co-founder is extremely significant for Aster, as the price rapidly reversed direction even without forming a local bottom at $1. As of the writing, it continues to trade above $1. If it achieves closures over $1.94, it could run towards new all-time highs above $2.17 and $2.42.
Should the volatility environment persist, the demand for futures trading will strengthen further. This would mean more attention, revenue generation, and exponential growth in the value of Aster. If CZ continues to regularly make such shares, it will ease this upward trend.
