After a meteoric 2,347% rise in just one week, Aster’s native token is now being eyed for another 4x to 6x move backing from Binance Founder Changpeng “CZ” Zhao, yet key risks loom over the path ahead.
Key Takeaways
- Aster (ASTER) rocketed over 2,300% in a single week, reaching a new all-time high near $2.30.
- Analyst Kyle Chasse predicts additional upside of 4x to 6x from current levels, citing continued adoption and structural momentum.
- The critical juncture arrives on October 1, when withdrawal access and broader listings may either fuel another leg up or trigger heavy sell pressure.
In just days following its September launch, Aster has caught market attention as one of the most explosive token performances in recent months. The token’s ~2,347% rally in a week propelled it to a new all-time high near $2.12. This runaway move has sparked bold projections, with crypto analyst Kyle Chasse forecasting a further 4x to 6x upside from here, even accounting for the parabolic move already baked in.
Much of this momentum is strengthened by Binance founder Changpeng Zhao’s early support. Binance’s official narrative claims CZ’s wallet executed symbolic ASTER buys early on, signaling confidence from one of crypto’s most influential figures. That association helps propel narrative-driven flows beyond pure speculation. In parallel, Aster positions itself as a decentralized perpetuals exchange (DEX) offering high leverage, hidden orders, and multichain support across BNB Chain, Ethereum, Solana, and Arbitrum.
Binance founder CZ’s early support for Aster DEX. Source: CZ on X
However, skepticism remains, where critics point to tokenomics heavy with early-stage supply concentration: Arkham and CMC AI data suggest a small number of wallets, some linked to CZ, hold over 70% to 80% of circulation. Such centralization raises concerns of coordinated dump risk if sentiment shifts.
ASTER Price Climbs as Technical Indicators Flash Overbought Signals
As of this writing (9:00AM UTC), ASTER is trading at approximately $2.28, showing a massive 33.1% gain over the past 24 hours after tapping its all-time and intraday high of $2.33, as per CoinGecko. Intraday low on the other hand spans $1.65.
On shorter timeframes, the one-hour RSI sits near 70, a level often considered the cusp of overbought conditions. The seven-day RSI, on the other hand, still supports a bullish tilt without immediate signs of reversal.
However, risks are mounting. ASTER’s token withdrawals have remained locked, limiting how far price action can reflect broader demand. October 1 marks the date when withdrawals will open and CEX listings could become more accessible. That unlock event could unleash heavy selling pressure, but it could also bring fresh liquidity and another leg up if adoption holds strong.
What’s Next for Aster Investors
If so inclined, the optimistic playbook suggests ASTER still has runway for multiple X gains before sentiment tops out. But for that to materialize, a few scenarios must align: continued on-chain adoption, trading volume growth, and integration with wider DeFi infrastructure; surprisingly restrained selling from early holders despite unlocked positions; and healthy narrative support, including high-profile endorsements and expanding crypto exchange listings.
But the downsides aren’t trivial. Whale-driven sell pressure, particularly after October 1, may overwhelm retail demand. Any signs of widening distribution concentration or insider exits could trigger sharp downswings, while regulatory scrutiny or exchange listing delays could derail confidence.
Summary
ASTER surged 2,347% in one week to a high of $2.33, boosted by Binance founder CZ’s support and narrative momentum. Analysts like Kyle Chasse project another 4-6x upside, though risks include concentrated token holdings, whale sell-offs after October 1 unlocks, and potential regulatory scrutiny. Investors face both high reward potential and elevated risk.
