ASTER Token Rockets Over 10% in an Hour as Binance Announces Spot Listing

Crypto exchange Binance on Monday said it will list next-generation decentralized perpetual exchange Aster’s crypto token on the platform today. As a result, ASTER token spiked over 10% in an hour to trade above $2 again.

Binance Confirms ASTER Token Listing

In an official announcement by Binance on October 6, the crypto exchange revealed that it will list ASTER token with a seed tag applied. Notably, the seed tag is applied to crypto tokens considered innovative, but may show higher volatility and risks.

The crypto exchange plans to list the decentralized perpetual exchange’s token in USDT, USDC, and TRY trading pairs. Users can start trading ASTER from 12:00 UTC on October 6, with token depositing starting at 9:00 UTC.

Binance reminded users that ASTER will not be available for trading on its pre-listing token feature, Alpha Market, once spot trading opens. Also, the exchange will no longer count trading volume towards Alpha points. Users will have 24 hours to transfer their holdings from Alpha Account to Spot Account.

“ASTER will be delisted from Binance Alpha when spot trading opens on Binance Spot. Users will be able to continue to sell ASTER via Binance Alpha,” said Binance.

In September, the decentralized perpetual exchange’s token skyrocketed by over 1,500% within a week as Binance founder Changpeng “CZ” Zhao endorsed Aster. Whales and entities such as MrBeast purchased ASTER worth millions amid massive hype.

Crypto Token’s Price Spikes Over 10% in an Hour

ASTER price zooms over 10% in just an hour, with the price currently trading at $2.07. The 24-hour low and high are $1.78 and $2.06, respectively. Furthermore, the trading volume has increased by 40% over the last few hours, indicating a massive interest among traders.

The BNB Chain-based token faced strong selling pressure after DeFiLlama delisted Aster’s trading volume data due to integrity concerns. Evidence suggested that Aster’s perpetual volume had recently started to closely mirror Binance’s activity.

CoinGlass data showed a reversal from selling to buying in the derivatives market. At the time of writing, the total ASTER futures open interest dropped 1% to $1.53 billion in the last 24 hours. In the past hour, the futures open interest on Binance, OKX, and Bybit climbed more than 11%, 8% and 6%, respectively. This signals bullish sentiment among derivatives traders.