- Aster token surges 300% to $0.40, but Arbitrum withdrawals stall as traders eye Hyperliquid’s lead.
- Binance-backed Aster jumps to $1.85B TVL, fueling talk it could challenge Hyperliquid’s $15.7B cap.
- Analysts project Aster could climb toward $4, but withdrawal snags leave traders cautious near $0.50.
Aster DEX has been under fire after users flagged failed token withdrawals on Arbitrum. The team told customers that funds remain safe and said fixes are underway, with BNB chain withdrawals already restored.
“We are still working to resolve the withdrawal issue on the Arbitrum network. It will take about 4 hours approximately. Please rest assured that your funds are SAFU on chain,” Aster team noted.
Withdrawals Stuck on Arbitrum
The disruption hit only days after Aster’s September 17 airdrop dropped 704 million ASTER tokens, a flood of activity that stressed contracts and sparked speculation of a system misconfiguration.
Arbitrum itself is running smoothly across other platforms, making the issue local to Aster’s setup.
Aster’s Binance-Backed Growth Story
Despite the setback, Aster’s numbers are hard to ignore. Backed by Binance’s YZi Labs, its total value locked (TVL) soared from $350 million to $1.85 billion this week, according to DeFiLlama.
That surge has traders comparing Aster to Hyperliquid (HYPE), the leading perpetuals exchange. Hyperliquid’s Layer-1 chain carries $2.74 billion TVL and a $6.2 billion stablecoin float, with HYPE’s market cap at $15.7 billion. To match that scale, ASTER would need a 12x rerating from current levels.
Related: Hyperliquid Faces a New Challenger – YZi-Backed Aster (ASTER) Rallies 400%; $0.50 Next
What’s Next for ASTER Price?
The ASTER token listed on Sept. 17 at roughly $0.10 and has since climbed to $0.40 by Thursday’s London session, a four-day gain of 300%. Daily volume expanded 25x to $326 million, giving ASTER a fully diluted valuation near $3.1 billion.
Binance co-founder CZ amplified the launch in a post, congratulating the team but stressing that execution will decide whether Aster can compete with entrenched players.
Can ASTER Run Higher?
Analysts say the rally may cool as early backers lock in profits, but the setup remains bullish into the 2025 altseason.
Market voices like Cirmit on X project a move toward $4, which would imply a 10x from debut levels, even after the token’s initial 700% run.
To caution traders is that the thin trading history leaves ASTER vulnerable to sharp pullbacks. Key support sits near $0.30, with resistance forming just below $0.50.
Related: BNB Chain Monthly Perp Volume Hits Record High of $33.29B: What’s Driving It?
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