Binance-Backed Aster Achieves Record $11B Trading Volume as Perp DEX Gains Massive Traction

In a remarkable demonstration of the growing demand for decentralized derivatives trading, Aster, the perpetual contract exchange backed by YZi Labs (formerly Binance Labs), has surged 15% to reach a new all-time high of $2.14. The platform, which represents Binance's strategic investment in the decentralized finance space, briefly touched this historic price level before settling slightly below the $2 mark amid broader market volatility. This impressive price movement coincides with Aster's extraordinary trading volume metrics, which have surpassed all expectations in the derivatives market. The platform's perpetual decentralized exchange (perp DEX) has achieved a staggering $11 billion in trading volume within just days of its official launch, signaling strong institutional and retail interest in decentralized derivatives products. This explosive growth has propelled Aster's cumulative trading volume to an impressive $544 billion across more than 524,000 active users, demonstrating the platform's rapid adoption and the market's appetite for sophisticated decentralized trading instruments. The timing of Aster's success is particularly noteworthy given the current market conditions characterized by significant volatility across the cryptocurrency sector. The platform's ability to not only withstand but thrive during these turbulent conditions underscores the robustness of its underlying technology and the growing confidence in decentralized derivatives platforms. As traditional finance continues to intersect with decentralized technologies, Aster's performance suggests that Binance's strategic backing through YZi Labs has positioned the platform as a leading contender in the competitive DeFi derivatives space. This development marks a significant milestone in the evolution of decentralized finance, particularly in the derivatives segment where centralized exchanges have traditionally dominated. Aster's success story, backed by one of the industry's most prominent players in Binance, indicates a shifting paradigm where decentralized platforms are increasingly capable of competing with and potentially surpassing their centralized counterparts in terms of both user adoption and trading volume.

Binance-Backed Aster Surges 15% as Perp DEX Volume Tops $11 Billion

Aster, the decentralized perpetual contract exchange backed by YZi Labs (formerly Binance Labs), rallied to a new all-time high of $2.14 before settling slightly below $2. The surge comes amid broader market volatility, underscoring growing demand for its derivatives platform.

Trading volume on Aster's perp DEX exceeded $11 billion within days of launch, with cumulative volume now at $544 billion across 524,000 users. Open interest stands at $255 million, while DeFiLlama reports total value locked (TVL) has surged to $1.6 billion—a 360% increase since September.

Bitcoin Faces Mounting Sell Pressure Amid $190 Million Long Liquidation

Bitcoin's price trajectory has hit a stumbling block, with exchange data revealing a concerning shift in market dynamics. The cryptocurrency dipped to $112,700 after a $190 million long position wipeout, including $16 million liquidated on Binance alone. This downturn coincides with a stark reversal in exchange flows—where 40,000 BTC flooded onto platforms between September 17-19, just as prices retreated from $117,000.

The imbalance between inflows and outflows tells a telling story. Earlier in September, sustained outflows fueled BTC's rally above $115,000. Now, the scales have tipped: muted outflows and elevated deposits suggest holders are preparing to offload holdings. Such on-chain behavior typically precedes heightened volatility, especially when Leveraged positions get forcibly closed.

CryptoQuant charts illustrate this inflection point. The September 7-15 accumulation phase—marked by net outflows—has given way to distribution. Unless buying pressure resurfaces, Bitcoin may struggle to maintain its footing near $113,000. Market participants are bracing for potential downside as the domino effect of liquidations and exchange inflows creates a self-reinforcing cycle of selling pressure.

Cryptocurrency Market Update: ASTER, XRP, and DOGE Face Volatility Amid Broader Market Trends

Aster (ASTER) surged 15% to a record $2.14 before retracing below $2.00, fueled by Binance Labs backing and $11B perpetual DEX volume. The token's volatility reflects speculative interest in decentralized derivatives trading.

Ripple (XRP) stabilizes above $2.83 after Monday's plunge to $2.69 triggered mass liquidations. The rebound coincides with Ripple's updated roadmap, though regulatory uncertainties continue to weigh on investor sentiment.

Dogecoin (DOGE) struggles at $0.2400 as whale exits compound a 21% weekly drop. The meme coin's network activity slump mirrors broader risk-off sentiment, with traders rotating out of speculative assets.

BNB Chain Validators Propose Halving Gas Fees and Accelerating Block Speeds

BNB Chain validators have introduced a community proposal aimed at slashing transaction fees on BNB Smart Chain (BSC) by 50% and reducing block production intervals from 750ms to 450ms. The MOVE seeks to bolster BSC's competitiveness against rival blockchains by addressing a critical pain point for traders, developers, and liquidity providers.

"Gas fees matter. They decide where traders build, where liquidity flows, and where innovation happens," stated the official BNB Chain announcement. Previous fee reductions on BSC demonstrated measurable improvements in network activity, validating the strategy of optimizing economic incentives for ecosystem participants.

The proposal WOULD lower the minimum gas price from 0.1 Gwei to 0.05 Gwei, further cementing BSC's position as a low-cost trading hub. Market makers and high-frequency traders—particularly sensitive to transaction costs—stand to benefit disproportionately from the changes.

USDe Surges to $600M on Binance Amid 12% Yield Frenzy

Ethena Labs' synthetic stablecoin USDe has achieved a staggering $600 million in inflows on Binance within 24 hours, fueled by the exchange's limited-time 12% APR promotion. The yield-bearing asset's explosive growth signals intensifying demand for structured stablecoin products across both retail and institutional crypto markets.

Binance's distribution network—spanning 280 million users—positions USDe for potential $1 billion adoption. The exchange's reward mechanism calculates yields via daily balance snapshots, requiring only asset custody without complex staking mechanics. Such yield offerings are becoming critical adoption drivers for trading platforms.

Market analysts observe this event as a watershed moment for stablecoin evolution, where competitive yields increasingly dictate capital flows. The Binance partnership demonstrates how strategic exchange integrations can unlock exponential growth for emerging crypto assets.

CZ Denies FT Report on YZi Labs Fundraising as 'Completely False'

Binance founder Changpeng 'CZ' Zhao has vehemently denied a Financial Times report suggesting his family office, YZi Labs, was preparing to raise external capital. The article claimed the $10 billion investment vehicle might open to outside backers—an assertion Zhao dismissed as containing 'made-up info and negative narratives.'

YZi Labs, established in January to manage Zhao's personal wealth, operates independently from Binance according to the executive. The firm has neither created pitch decks nor engaged in fundraising discussions since its rebranding. Ella Zhang, YZi Labs CEO, had been quoted discussing potential future external funding, but Zhao's statement contradicts these claims.