Aster DEX Introduces ASTER as Trading Collateral Following CZ’s $2M Purchase

On November 5, Aster DEX announced that its native ASTER token can now be used as collateral for perpetual trading, providing practical benefits to traders. This announcement followed a significant purchase by Binance founder Changpeng Zhao (CZ), who bought $2 million worth of ASTER just days prior.

Key Takeaways

ASTER is now usable as collateral for perpetual trading with an 80% margin ratio.
CZ's $2 million purchase of ASTER on November 2 led to a 30% price increase, and the utility announcement followed shortly after.
Traders can leverage their positions with ASTER and enjoy a 5% discount on trading fees, enhancing the token’s usability and market demand.

On November 5, Aster DEX revealed an important upgrade that allows its native ASTER token to be used as collateral for perpetual trading, offering an 80% margin ratio. Traders can leverage this token to secure positions and take advantage of a 5% discount on trading fees, adding immediate utility for holders.

Aster utility upgrade announcement Source: X

This announcement changes ASTER from a speculative token to a functional asset for users of the privacy-focused decentralized exchange (DEX). Users can now deposit ASTER on the BNB Chain to engage in margin trading, with the platform accepting deposits at an 80% loan-to-value ratio. This relatively conservative collateral ratio helps safeguard against liquidations while still offering practical leverage opportunities.

Aster DEX adds ASTER as trading collateral —Days after CZ's $2M buy

Strategic Timing After CZ’s Investment

The timing of the utility rollout is significant, coming just three days after Binance founder Changpeng Zhao (CZ) made headlines by disclosing his purchase of approximately 2.09 million ASTER tokens for $2 million on November 2. This purchase sparked a dramatic reaction in the crypto market, with ASTER witnessing a surge of over 30% within minutes, rising from $0.91 to $1.25. Furthermore, trading volumes skyrocketed, increasing 800% to reach $2 billion within 24 hours, while the total value locked on the DEX hit $1 billion as traders flocked to the platform.

The close timing between CZ’s investment and the utility feature announcement raises questions. Did CZ have prior knowledge about the collateral feature's introduction? Or did the sudden interest in ASTER prompt a rapid implementation of this product? Regardless, this utility upgrade supports his “buy and hold” strategy, as it creates fundamental value for the token.

Implications for Aster's Demand

The new collateral feature generates two main forms of buying pressure. First, traders who use ASTER as margin will need to hold the token continuously, thereby decreasing the total circulating supply. With an 80% margin ratio, $1 million in ASTER collateral translates to $800,000 in trading capacity, which is appealing for active traders.

Additionally, the 5% discount on trading fees incentivizes users to retain the token, even if they are not using the collateral features. For a platform designed for high-volume traders, the savings from this discount can accumulate quickly. This discount may also require users to retain ASTER in their wallets, further restricting supply.

The Bigger Picture for Aster

Aster was launched on September 17, 2025, as a result of the merger of Astherus (a multi-asset liquidity hub) and APX Finance (a perpetual trading protocol with a historical trading volume of $500 billion). The platform emphasizes privacy-enhanced trading and is building the Aster Chain, which is a Layer-1 blockchain designed to utilize zero-knowledge proofs to prevent front-running, with plans for a launch in the first quarter of 2026.

CZ’s established history of backing Bitcoin and BNB lends credibility to Aster's potential. His rare public disclosure regarding a specific token suggests a strong belief in the future of Aster. The recent utility announcement converts speculation into tangible value, offering traders clear reasons to acquire and hold ASTER, beyond mere price speculation.