ASTER (Aster) rose 27.92% in 24 hours

Gate News Bot news, on November 3, according to CoinMarketCap, as of the time of writing, ASTER (Aster) is currently priced at $1.22, with a rise of 27.92% in the last 24 hours, reaching a high of $1.26 and a low of $0.86. The current market capitalization is approximately $247 million, an increase of $53.9 million compared to yesterday.

Aster is a next-generation decentralized exchange for perpetual contracts aimed at all traders. It offers cross-chain trading capabilities without the need for bridging or switching; just select a chain and trade. Aster aggregates deep liquidity across markets, supporting large transactions. The platform also provides advanced tools like hidden orders, giving users control, speed, and a competitive edge. Aster is committed to creating a streamlined trading experience for both beginners and professionals, ensuring confidence in every trade.

Important news about ASTER recently:

1️⃣ Optimization of Buyback and Burn Plan Aster announced adjustments to the S3 buyback and airdrop mechanism, where 50% of all buyback funds will be destroyed through a public buyback address to reduce supply and consolidate the long-term value of ASTER. The remaining 50% will flow back to the locked airdrop address, reducing circulation and reserving more shares for potential future airdrops. This initiative aims to optimize the token economic model, bringing stronger and more sustainable value to users and holders.

2️⃣ Rocket Launch trading activity has achieved significant results In the first six days since the launch of the inaugural event of Rocket Launch, an innovative product under Aster, the spot trading volume reached $122 million, the contract trading volume exceeded $933 million, and the total trading volume surpassed $1 billion. The new round of Rocket Launch activities focuses on the decentralized oracle network Nubila, setting up a reward pool totaling 6 million $NB and $200,000 $ASTER, which is expected to further stimulate trading activity on the platform.

3️⃣ Large capital flows attract market attention Some large capital flows have been detected, including an investor shorting $25 million worth of ASTER on HyperLiquid, as well as a whale shorting 42.966 million ASTER with 3x leverage. At the same time, Binance founder CZ publicly disclosed that his account holds approximately 2.09 million ASTER. These large capital movements may have a significant impact on short-term market sentiment and price trends.

From a technical perspective, the ASTER price has experienced a significant rise of 27.92% in the past 24 hours. The optimization of the buyback and burn plan, along with successful trading activities, may have provided support for the token's value, but the large-scale short selling has also brought some pressure to the market. Considering the high volatility of the cryptocurrency market, investors should closely monitor subsequent developments and potential risks.

This message is not an investment advice, investors should be aware of the market volatility risks.