Mr. Beast kept buying ASTER even after insider trading accusations

Mr. Beast is still lending his fame and liquidity to Aster perpetual futures DEX, after depositing more USDC to acquire ASTER tokens. In the past few days, the famous YouTuber poured close to $1M into ASTER purchases. 

Mr. Beast is fueling the ASTER rally, granting more exposure to the Aster perpetual futures DEX. On-chain data of a crypto wallet linked to Mr. Beast accumulated ASTER tokens, completing withdrawals from exchanges to one of his known storage addresses. 

Mr. Beast has been known for jumping into token-based projects and memes, with accusations of cabal trading. This time around, the wallet has been accumulating ASTER, adding 538,384 tokens, valued at $990K. 

In the past week, Mr. Beast managed to also buy the peak on ASTER. The influencer’s official account has not shared any specific plans, nor endorsed the token. 

Mr. Beast accumulates ASTER to new wallet

The recent purchases were for an average price of $1.87, below the all-time peak for ASTER at $2.31. The new purchases were parked in a special new wallet, which holds without selling. Before the Aster launch, Mr. Beast claimed he never heard of the project, and just tried out a risky derivative position. Right after that, the influencer with more than 31M followers switched to spot buying.

Previously, Mr. Beast also took a leveraged position on ASTER, losing around $20K. The known wallets are currently not making any bets on Hyperliquid, and the trades of Mr. Beast on Aster DEX itself are unknown. 

The labeling of Mr. Beast addresses also increased speculations on the potential logic of the trades. Some believe the YouTuber really did not know the project’s nature. For others, using Aster DEX was a way to launder funds through dark liquidity pools. Unlike Hyperliquid, trades on Aster remain hidden and cannot be traced, lending to the money laundering speculations. 

ASTER takes a step back

Following the latest market downturn, which affected all altcoins, ASTER dipped to $1.91. Trading volumes remain near an all-time peak at $2.3B in 24 hours. The token has been launched for perpetual futures trading on both Hyperliquid and Aster, but most of its volumes are concentrated on Binance.  

The entry of Mr. Beast into ASTER markets also turned out to be a top signal, after which the token stopped its early price discovery rally. 

Despite the token downturn, Aster DEX now stores a record value, climbing every day. The perpetual futures DEX locks in $2.21B in its vaults, while the protocol keeps producing record fees. 

As of September 26, Aster increased its trading volumes, achieving $16.36M in daily fees. The exchange also posts peak USDT volumes, with over 770K traders and a total of 2.7M users to date. 

ASTER is still closely watched, as the token is also bundled into connected wallets. Even without the fame of Mr. Beast, Binance’s founder Changpeng “CZ” Zhao gave the project extra exposure and boosted the token.