ASTER Rises 1.34% After 198% Buyback and Burn Tokenomics Update

Aster [ASTER] rose 1.34% in the last 24 hours with daily trading volume spiking 366%, following a prior 21% rally from $0.661 to $0.803 on Wednesday, 17 June. The move came after an official tokenomics update announcement stating that 99% of Aster's daily platform fees would be used to buy back the native token, with an equal amount burnt from the reserve and bought-back ASTER distributed to stakers — a 198% step up in buyback and burn. The price surge occurred within a larger consolidation phase, with retracement in recent hours suggesting market participants viewed the rally as a selling opportunity.

Aster Implements 198% Buyback and Burn Step Up

In a post on X, Aster clarified the tokenomics mechanism: 99% of daily platform fees would be used to buy back the native token. An equal amount is burnt from the reserve, while the bought-back ASTER goes to stakers. This represents a 198% step up in buyback and burn compared to the previous model.

ASTER Price Faces Bearish Structure Since October

Since October, ASTER has made new lows on the 1-day chart. At the time of writing, this bearish structure remained in place. Bulls would need to drive a rally beyond $0.811 to flip the swing structure. The latest rally attempt faced rejection at the $0.75-$0.80 supply area.

The 2-hour chart showed a bearish structure in progress. The previous day's rally swept the area above the local high before reacting bearishly. Extension levels plotted on the chart showed $0.588, $0.54, and $0.46 as lower price levels.

Bitcoin [BTC] was at the $64K support zone at the time of writing, putting selling pressure on altcoin markets including ASTER.

FAQ

What is Aster's new tokenomics update? Aster announced that 99% of daily platform fees would be used to buy back the native token, with an equal amount burnt from the reserve and bought-back ASTER distributed to stakers — a 198% step up in buyback and burn.

How much did ASTER rise after the tokenomics announcement? ASTER rose 1.34% in the 24 hours following the announcement, with trading volume spiking 366%. A prior rally on Wednesday, 17 June saw a 21% move from $0.661 to $0.803.