Aster Token Climbs After Trust Wallet Announces Soon-To-Launch Perpetual Trading, BNB Follows

Trust Wallet announced on Wednesday that it will soon launch perpetual trading on its platform, powered by the Aster (ASTER) decentralized exchange.

In a post on X, Trust Wallet said users will be able to trade over 100 markets with up to 100x leverage. The announcement sent Aster’s price soaring more than 40% over the past 24 hours, also lifting Binance’s BNB token, as Aster’s native token is issued on the BNB Smart Chain.

The official ASTER token supply of eight billion is deployed on BNB Smart Chain, where most of Aster’s active trading venues and liquidity pools are located, helping to drive BNB’s price more than 2% higher in the last 24 hours, alongside Aster’s rally.

On Stocktwits, retail sentiment around Aster surged higher within ‘extremely bullish’ territory, accompanied by chatter at ‘extremely high’ levels over the past day. Meanwhile, retail sentiment around BNB also trended in the ‘extremely bullish’ zone with retail chatter at ‘high’ levels.

The announcement comes a week after reports suggested that MetaMask may roll out perpetual trading using Hyperliquid’s (HYPE) builder codes, according to a pull request on the project’s GitHub repository.

Perpetual futures trading has traditionally been dominated by centralized exchanges, such as Coinbase (COIN), but decentralized platforms, like Aster, are quickly reshaping the market, according to Grayscale Research.

Aster currently ranks as the fourth-largest decentralized perpetual trading platform, trailing Hyperliquid, Lighter, and edgeX, according to DefiLlama. Data showed trading activity on the platform has surged sharply this week, with perpetual futures volume jumping from $3.26 billion on Sunday to $25.77 billion by Wednesday.

Read also: Bitcoin, Ethereum Drift Lower As Crypto Market Remains Tepid – ETF Outflows Signal Pause In Institutional Demand

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