Why is ASTER Price Continuing to Decline Despite CZ Support?

Jakarta, Pintu News – In the dynamic world of crypto, the ASTER token, which is part of the Aster decentralized exchange (DEX), has experienced a significant price drop. From its peak price of $2.43 on September 24, ASTER is now trading at $1.87, down 8% in the last 24 hours. This more than 20% drop has raised big questions among investors and analysts.

Causes of Price Drop

This drop in ASTER’s price comes amid growing doubts over the performance of the Aster platform. Well-known investor, Mike Ess, revealed on X (Twitter) that he has sold 60% of his ASTER holdings, switching to Bitcoin (BTC) and Plasma (XPL).

This decision was followed by other traders who also expressed similar concerns. A well-known X user, Clemente, even revealed that he had completely exited his position in ASTER to switch to Hyperliquid (HYPE) tokens.

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Ambiguous role of CZ

The involvement of Changpeng Zhao (CZ), founder of Binance, towards ASTER has had a mixed impact. On September 28, CZ mentioned that the Aster project is complementary to the BNB Chain ecosystem, although it indirectly competes with Binance.

Although YZi Labs (formerly Binance Labs) owns a minority stake in Aster and its team is made up of former Binance employees, CZ’s comments in a recent Spaces call were taken by some traders, such as Ess, as a sign that CZ may be taking distance, which raises further doubts.

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Fundamentals Strong, Uncertainty Continues

Despite the challenges, Aster’s fundamentals remain strong. Since its launch, the platform has generated over $82 million from fees, while the total value locked (TVL) has reached $701 million on BNB Chain. These figures indicate significant adoption for a project that is only a few weeks old.

However, this quick recall highlights the challenge of balancing initial growth with user confidence and product reliability. Analysts warn that competition with Hyperliquid is intensifying, and without continued product improvements, momentum could fade.

Conclusion

Although ASTER has strong fundamentals and support from prominent crypto figures such as CZ, continued uncertainty and increased competition keep the future of ASTER’s price uncertain. With investors shifting to other assets and changing perceptions of CZ’s involvement, the market may still have to wait longer to see if ASTER can live up to its initial expectations as a bold new player.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• BeInCrypto. Reasons Aster Price Sliding Despite CZ’s Backing. Accessed on September 29, 2025
• Featured Image: Bitcoin Sistemi