Binance Spot Listing Sends ASTER Token Soaring Above $2 Mark

• ASTER token surged over 10% in one hour after Binance confirmed its upcoming listing.

• Trading begins on October 6 at 12:00 UTC with ASTER/USDT, ASTER/USDC, and ASTER/TRY pairs.

On Monday, the ASTER token recorded a significant price rise following the announcement by Binance that it will soon be listed on the exchange platform. The token based on the BNB Chain increased over 10% in 60 minutes to restore its worth to a level above $2 to trade.

The move is a major milestone in the decentralized perpetual exchange since it will become accessible on one of the largest platforms in the world. The listing is accompanied by a seed tag label, which implies the innovative character of the asset and possible volatility and increased risk factors.

Binance Opens ASTER Spot Trading with Multiple Pairs

Binance has officially declared that the listing of the ASTER token would start on October 6, and that trading would start at 12:00 UTC in various pairs. The exchange will facilitate the trading of ASTER with USDT, USDC, and TRY, which will give the traders a range of choices to enter positions. The deposit feature opened at 9:00 UTC, and users were able to prepare their holdings before the actual trading opening window. The platform made it clear that ASTER would no longer be offered on its Alpha Market pre-listing program after spot trading is launched.

As per CMC data, after the announcement, the price of ASTER increased to $2.07, which is a considerable recovery from its 24-hour low of $1.78 earlier. The volume of trading increased by 50% in a few hours, which shows a significant interest and involvement of the market by the retail and institutional traders. The data in the derivatives market indicated the change in sentiment as the open interest in the futures in key exchanges rose by 6%-11% per hour.

The token previously gained a lot attention in September when it skyrocketed over 1,500% following endorsement from Binance founder Changpeng Zhao. However, ASTER faced scrutiny when DeFiLlama removed its trading volume data due to concerns about data integrity and unusual patterns.

Despite recent challenges, the Binance listing announcement has reinvigorated trader confidence, with total futures open interest standing at $1.53 billion. Market observers anticipate continued volatility as the token establishes its presence on the mainstream exchange platform.

Highlighted Crypto News Today: 

$125K Showdown: Will Bitcoin (BTC) Falter or Flip Resistance to New Support?