ASTER Becomes DeFi Leader as Wintermute Moves Millions

ASTER, a new decentralized exchange (DEX), has become a leader in decentralized finance. It now tops perpetual trading, with record volumes and millions in fees. At the same time, major market maker Wintermute has moved millions of ASTER tokens to exchanges, sparking speculation about what comes next.

ASTER Tops $42B in Daily Perp Volume with CZ’s Backing

According to DefiLlama data, ASTER processed more than $42 billion in 24-hour perpetual trading volume, making it the largest player in this space. This massive activity brought in roughly $15 million in daily fees for the protocol. These figures place ASTER well ahead of rivals such as Hyperliquid, dYdX, and GMX.

Binance co-founder Changpeng “CZ” Zhao also showed public support for ASTER, boosting its visibility. 

This endorsement coincided with the token’s extraordinary 1,500% price increase. Still, new competition is coming up. Still, competition is rising, with Cathie Wood of ARK Invest noting Hyperliquid’s early potential. This shows that while ASTER is in the lead, investors are still paying close attention to other platforms.

Wintermute Moves $4.8M in ASTER Tokens as Price Holds Strong

While ASTER led the trading charts, Wintermute, which plans to open a New York office later this year, was moving tokens to exchanges. Arkham Intelligence reported that over $4.8 million worth of ASTER was sent to Bybit and Gate in the past 24 hours. On Bybit, Wintermute deposited around $1.3 million worth of ASTER in multiple batches, each valued between $135,000 and $142,000.

While on Gate, the outflows were much larger. Two transactions totaled about $3.5 million worth of ASTER, with the single largest being 1.19 million tokens, about $2.24 million. 

Another transfer of 619,000 tokens, worth $1.2 million confirmed the scale of Wintermute’s activity. Even with these large token moves, ASTER’s price stayed steady. TradingView data shows the token is trading at $1.95, down 3.7% on the day but still 120% higher compared to last week.

Rumors and Clarifications Surround ASTER’s Rise

ASTER’s quick rise has led to many online discussions. Social media is full of speculation, including unconfirmed claims that the Trump family and YouTuber MrBeast who faced crypto manipulation allegations in 2024, many have invested. These rumors have added to the curiosity, even though no proof has been found.

During a recent ASTER X Spaces session, CZ clarified the project’s background. He confirmed that ASTER was founded by a group that includes former Binance employees and that YZi Labs holds a minority stake. These remarks helped to put an end to the rumors of direct Binance involvement, while also adding credibility to ASTER’s story.

Nevertheless, it is still uncertain whether ASTER can sustain this momentum. For now, however, it has firmly positioned itself as the frontrunner in decentralized perpetuals trading.