Key Takeaways
Why is Aster gaining again?
Because the Buyback rate increased 50%, totaling $39 million spent and 18 million tokens burned, tightening supply and supporting price momentum.
What are ASTER traders eyeing next?
Holding above $1 could open a run toward $1.17 and $1.23 resistance levels.
Aster [ASTER] surged 11.36%, touching a local high of $1.16 before slightly retracing to $1.11 at press time.
Over the same window, its Trading Volume jumped 90% to $667 million, signaling renewed demand and capital inflows.
But what triggered this price uptick?
Aster buybacks drive new momentum
After a period of sloppy price performance and closing with higher lows, the Aster team stepped in to increase token buyback rates.
As such, the ASTER team raised their buyback rate to $7,500 per minute from $5000p/m marking a 50% increase. This means the team will spend $10 million per day on token buybacks if the rate remains constant.
In fact, over the past 24 hours, the team has bought 2.4 million ASTER. Cumulatively, the Aster team has spent $39 million to buy 37.7 million tokens, and they launched the buyback program.
Source: Asterlify
Roughly 50% of these buybacks have been burned, cutting circulating supply by about 18 million tokens and tightening market float.
Importantly, the initiative is a strategic deflationary measure that has helped reduce supply, thereby stabilizing prices at times.
Spot demand intensifies
Following the buyback update, buyers turned more active in the Spot market.
ASTER’s Spot Netflow dropped for the third straight day to –$8.04 million, as Outflows ($129.28 million) exceeded Inflows ($121.24 million).
The negative Netflow reflected accumulation pressure, with traders holding rather than depositing to exchanges.
Source: CoinGlass
Futures traders chase the rally
Interestingly, after Aster signaled recovery, investors jumped into the perpetuals to strategically position themselves. According to Artemis data, Perpetual Transactions surged to 4.7 million while Perpetual Volume jumped to $11 billion.
Source: Artemis
When Volume and transactions rise in tandem, it signals increased participation and capital flow into the futures market. Thus, investors entered the market to either take short or long positions, awaiting the next move.
The Long/Short Ratio rose to 3.83, with 79.28% of positions long—an indication that most traders expected more upside.
Source: Coinalyze
Can ASTER hold above $1?
The Stochastic Momentum Index climbed to 18 on TradingView, showing stronger buyer dominance.
If momentum persists, ASTER may break its next resistance at $1.17 (Parabolic SAR) and attempt $1.23.
Source: TradingView
Failure to sustain demand could push prices back toward $1.00 support, though the bullish bias holds as long as ASTER trades above that level.
Credit: Source link
