The BNB chain-based decentralized Perpetuals Exchange Aster has easily crossed $ 2 billion in total locked amount (TVL) on Thursday after the folk token launched, before falling intensely, according to Defillama data.
The progress already followed The project’s token launch of the project has proven to be short -lived, as the day ends with $ 545 million TVL. At the time of writing on Friday, the exchange TVL rebounded At $ 655 million, almost twice as much as $ 300 million – $ 400 million before the token debut.
The launch also led to increased trading activity, with the Aster logging $ 434 million in 24-hour volume, putting it on the most active decentralized finance derivatives platform (DEFI). As the project gains traction, it still has ways to get to Hyperliquid, its biggest rival in space.
According to Defillama, Hyperliquid reported $ 670 million on TVL, $ 800 million in the day -to -day trading volume and $ 15 billion open interest, compared to ASTER’s $ 3.72 million.
The community is thinking of the involvement of the Binance founder in Aster
Binance co-founder Changpeng “CZ” Zhao greeted the aster in X, writing “Continued building.” The comment has sparked the speculation that Zhao may be behind the project, along with some users pointing to changes in his profile and suggesting aster has been launched in response to the growth of Hyperliquid.
A member of the community Says That Zhao may have realized that the business was at risk, and the Aster launched in response.
Another X user has yet to take the speculation, saying that Zhao “clearly urinates about hyperliquid” and said he was “back to charge” after Removing Ex-Binance Tag with his profile.
Despite the speculation -haka, the CZ is prohibited from managing Binance under a Living restriction imposed by US authorities in 2024 as part of his plea. Binance CEO Richard Teng Last year’s restriction confirmed. Zhao is already described himself as “just a member of the community and a BNB holder.”
When the BNB hit $ 1,000 for the first time on Thursday, Zhao emphasized this point in a celebratory post in X.
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Aster’s real connection to CZ
Despite Zhao’s departure, Aster’s relationship with the Binance ecosystem has been documented.
Binance Labs, the former arm of the venture capital of the exchange and the family office is tied to Binance co-founders CZ and YI he, Rebranded to Yzi Labs in January. According to an announcement, Zhao will play an active role in coaching and teaching in incubator starting companies.
In November 2024, the Yzi Labs announced That invested in Aster’s predecessor, Astherus. A BNB chain representative told cointelegraph that the aster received support from the BNB chain and YZI LABS.
The spokesman said Aster received mentorship, exposure to ecosystem, and accessing technical and marketing resources as part of the program. It is unclear whether Zhao is a direct coach or mentored aster.
“In addition, Aster has obtained investment from the YZI LABS (former Binance Labs) as part of the incubation program,” a BNB chain representative told cointelegraph.
BNB chain representatives also said Aster is now the number one Perpetual Dex in the blockchain and expressed their desire to support the project thoroughly.
“Derivatives are an integral part of any Defi ecosystem. We continue to support Aster, and we hope to see more forever protocols that have emerged and growing to further enrich the BNB chain ecosystem.”
As Aster reached significant milestones in its launch, some community members criticized the platform. An x user even claimed They lose funding while trying to retreat, while another Says The platform does not work.
Cointelegraph reached Binance, CoinmarketCap, Aster and Yzi Labs but did not receive a response by publication.
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