Ever wonder why a perp DEX doing $48B in monthly volume can't hold its token up?
$ASTER is down about 2% near $0.68 today, even though Aster just posted $48.3B in 30-day perp volume and spent 99% of its late-October fees buying back 2.6M tokens, plus a matching team burn. The other side: the Stage 6 airdrop claim window opened this week, putting tens of millions of newly claimable tokens in holders' hands.
That tension is the trade right now. $BTC is flat near $75,795, so this looks like $ASTER -specific supply, not a market-wide flush.
I'm watching $0.676, today's low. Hold above it and the buyback story gets room to work, with $0.698 in sight first. Lose it and claim selling likely keeps pressing lower, with $0.60 the next round number traders will watch.
Would you buy a token its own platform is buying back, or wait out the claim selling first?
#Aster #CryptoMarket #Write2Earn
$ASTER is down about 2% near $0.68 today, even though Aster just posted $48.3B in 30-day perp volume and spent 99% of its late-October fees buying back 2.6M tokens, plus a matching team burn. The other side: the Stage 6 airdrop claim window opened this week, putting tens of millions of newly claimable tokens in holders' hands.
That tension is the trade right now. $BTC is flat near $75,795, so this looks like $ASTER -specific supply, not a market-wide flush.
I'm watching $0.676, today's low. Hold above it and the buyback story gets room to work, with $0.698 in sight first. Lose it and claim selling likely keeps pressing lower, with $0.60 the next round number traders will watch.
Would you buy a token its own platform is buying back, or wait out the claim selling first?
#Aster #CryptoMarket #Write2Earn