Aster Launches Native Token ASTER with Strong Backing
Aster, a decentralized perpetual exchange supported by YZi Labs (formerly Binance Labs), launched its native token ASTER on September 17, 2025. The token price surged over 300% within hours of its launch.
Launched in July on Binance’s BNB Chain, Aster allows traders to speculate on cryptocurrency prices using leverage. Besides YZi Labs, Pancakeswap, a leading decentralized exchange on BNB Chain, also backed Aster.
Before the token launch, Aster ran the Genesis program to boost growth and trading on its platform. It rewarded contributors with a total of 704 million ASTER tokens through an airdrop.
The ASTER token is now available for claim and spot trading on Aster’s platform. At the time of writing, ASTER trades at $0.3981 with a market cap of $659.25 million and a 24-hour volume of $330 million, according to CoinMarketCap.
Binance’s CZ Supports Aster Amid Rising Competition
Changpeng Zhao (CZ), Binance’s co-founder, praised Aster’s launch on his X (formerly Twitter) account. He wrote, “Well done! Good start. Keep building!”
CZ’s support, through YZi Labs’ investment, is seen as a strategic move to challenge Hyperliquid, a leading perpetual DEX whose token HYPE hit a new all-time high on the same day.
An X user, Tulip King, commented that CZ appears focused on competing with Hyperliquid. CZ recently updated his profile to emphasize his active role at Binance.
Hyperliquid has generated billions in trading volume. Its decentralized model, which requires no KYC and offers fast trade execution, competes strongly with centralized exchanges like Binance and Coinbase.
Aster Joins Growing Competition in Decentralized Perpetuals
Hyperliquid faces increasing competition from emerging decentralized perpetual exchanges. One rival, Lighter, gained attention recently for its viral points trading feature.
Now, Aster, backed by what some call the “Binance Cartel,” is gaining traction. It aims to challenge Hyperliquid’s dominance in the decentralized perpetual trading space.
