Aster [ASTER] has recently captured significant attention within the crypto market, experiencing a notable price surge and a remarkable increase in trading volume. This renewed momentum appears to be driven by a strategic confluence of proactive measures by the Aster team and a subsequent surge in investor demand across various market segments.
Strategic Buybacks Fueling Momentum
The primary catalyst for Aster's recent uptick is the team's aggressive increase in its token buyback program. The buyback rate was significantly boosted by 50%, elevating the spending from $5,000 to $7,500 per minute. Cumulatively, the Aster team has expended $39 million to acquire tokens since the program's inception. Crucially, approximately 50% of these purchased tokens, totaling around 18 million, have been permanently burned, thereby reducing the circulating supply. This strategic deflationary measure tightens market float, creating scarcity and providing a robust foundation for price support and upward momentum.
Intensified Market Demand and Bullish Sentiment
Following the buyback announcement, market activity surrounding ASTER intensified considerably. The token witnessed an 11.36% surge, accompanied by a staggering 90% jump in trading volume, indicating strong capital inflows. In the spot market, a negative netflow signaled accumulation pressure, as traders opted to hold their tokens rather than depositing them onto exchanges. Concurrently, the futures market also reflected a strong bullish bias; perpetual transactions and volume soared, with a significant majority of positions (nearly 80%) being long. This widespread investor confidence suggests an expectation of further price appreciation, with holding above the $1 support level being key to potentially targeting resistance at $1.17 and $1.23.
