Binance founder Changpeng Zhao disclosed on November 2 that he had purchased an undisclosed amount of Aster’s native token, ASTER, using his personal funds.
The move drew immediate attention from the crypto community, as Zhao (widely known as “CZ”) rarely announces token buys publicly.
SponsoredBinance Founder Bets $2 Million on Aster
According to a screenshot he shared, Zhao bought the asset “at market” around $0.91 per token. The wallet displayed a balance of approximately 2.09 million ASTER tokens, valued at around $2 million at the current exchange rate.
Zhao also compared this purchase to his early acquisition of BNB during Binance’s first token generation event eight years ago. The comparison signaled a long-term conviction rather than a speculative play.
Zhao’s revelation quickly energized the Aster market.
Within minutes of his announcement, ASTER surged nearly 30%, reaching a multi-week high of $1.17. This represents a sharp turnaround for a token that had fallen over 38% in the past month.
The price rally reflected renewed investor confidence in the project. It also underscored the psychological impact of Zhao’s endorsement, which often signals a strong conviction to both retail traders and institutional observers.
Meanwhile, the timing also coincided with new structural updates from the Aster team. On October 31, the project announced refinements to its S3 buyback and airdrop model.
SponsoredUnder the new structure, 50% of all buybacks from both S2 and S3 will be burned, reducing total supply and supporting long-term price stability.
The remaining half will return to a locked airdrop address, decreasing circulating supply while reserving future allocations for loyal users and long-term holders.
Will Zhao Buy The Tokens of Other BNB Chain Projects?
Crypto analyst AB Kuai Dong noted that this is one of the rare instances where Zhao has personally purchased a token on-chain.
He questioned whether the Binance founder might expand his exposure to other BNB Chain projects, given the relatively modest $2 million size of the ASTER trade compared with his reported wealth.
“[Zhao] is currently already the third most influential person on Twitter, and every public action he takes affects market sentiment,” the analyst noted.
Indeed, Zhao has played a central role in the resurgence of the BNB Chain ecosystem.
So, if he continues to accumulate assets tied to BNB Chain infrastructure projects, his actions could further strengthen the network’s credibility. This, in turn, may attract fresh capital and deepen investor confidence in the ecosystem.
