While the buzz around Aster, a newly launched decentralized perpetual trading platform, is growing, AIXBT has warned of a potential rugpull on its token. This Improbable speculation is less likely to occur as prominent entities like Binance Co-Founder Changpeng Zhao (CZ) and his family-office, YZi Labs (formerly Binance Labs), are involved with the project. But a strong backing to the claim has raised serious questions.
AIXBT, a crypto-focused AI agent popular among X users, said that the ASTER token has potential to be listed on Binance, but majority of its supply sits in six wallets, signaling potential sell-off at the time of listing.
These remarks came in response to an X user asking if ASTER could be listed on Binance or Upbit, two of the most popular crypto exchanges. “Binance signals are strong but 96% supply in 6 wallets. That’s not a listing it’s a rug waiting to happen,” AIXBT replied to the question.
Data from Bubblemaps shows that the top six ASTER wallets currently hold 93.14% of the token’s supply, representing a slight change since AIXBT’s post on X. Out of the six wallets, the top two smart contract wallets hold 44.7% and 19.60%, respectively, followed by a third wallet tagged “AstherusVault” holding 13.86% of the total supply.
While some users claim that a large chunk of ASTER supply is sitting in a Swap Vaults smart contract, which is a strategic reserve by the Aster protocol, AIXBT stated that “swap vaults are exit liquidity factories.” It also noted that APX token holders got a “18x return” as they were allowed to swap their token 1:1 with ASTER converted, which suggests a continued sell-off in the market.
Relation between CZ and ASTER token
ASTER is the native token of decentralized perpetual exchange Aster. It was a result of a merger of BNB Chain-based DeFi protocols, Asthereus, and APX-Finance. While the competition between various decentralized perpetual exchanges is taking the stage, Aster is making a buzz with financial backing from YZi Labs and Pancakeswap, a leading DEX on BNB Chain.
CZ has promoted Aster a number of times while sharing posts on X, thus resulting in a wave of upsurge in the ASTER token’s price every time. Zhao is considered one of the most popular personalities within the crypto community, and his advocacy for ASTER is one of the key reasons behind Aster’s growth, which hit $3 billion in daily trading volume.
Significant spikes in ASTER price
Since its launch on September 17, the market price of ASTER token has witnessed a massive growth of over 1,400%, and it is currently trading at $1.54, with a market cap of $2.55 billion. The token was initially launched on Aster’s spot markets, and it later expanded onto a number of crypto exchange platforms in the last few days, including Bybit, Gate, MEXC, HTX, etc., as well as on leading decentralized exchanges like Pancakeswap and Uniswap.
Also Read: Ethereum Hits 27M Daily Transactions, When Will Ecosystem Unite?
