After a period of strong volatility in the crypto market, the $ASTER token is becoming the center of attention as it returns to test an important demand zone for the first time since losing the support level of $0.90. The current price movement not only reflects short-term selling pressure but also raises significant questions about the ability to establish a sustainable price base for a longer-term recovery phase ahead.
The price of $ASTER has dropped significantly, but liquidity remains high.
In the last 24 hours, the price of $ASTER has fluctuated around $0.70 USD, recording a decrease of about 10-12%. Notably, the trading volume remains very high, exceeding 400 million USD according to aggregated data from CoinMarketCap and CoinGecko. This indicates that the trading activity in the market is not weakening, reflecting a clear tug-of-war between profit-taking sellers and buyers probing lower price levels.
The sharp price drop but abundant liquidity is often a sign that the market is in a redistribution phase rather than a collapse due to lack of cash flow. This is an important factor to monitor when assessing the potential for a mid-term bottom formation.
Who is Aster DEX in the current DeFi landscape?
$ASTER is the native token of Aster DEX, a multi-chain decentralized exchange focused on perpetual and spot trading. The project is built on Aster Chain, a layer 1 blockchain optimized for processing speed and security. Previously, Aster was known as APX Finance before rebranding and migrating the token, allowing old holders to convert to $ASTER.
At the moment, the market capitalization of $ASTER is around 1.7 billion USD, placing this token in the top 40-50 largest crypto projects. However, compared to the historical peak around $2.4-$3.0, the price of $ASTER is still down over 70%, reflecting a deep correction after a previous hot growth period.
Technical pressure and token unlock factors
From a technical perspective, $ASTER previously had a strong surge to around $1.41 last month before entering a deep correction phase. The price quickly returned to $0.88 and then continued to slide down to the current $0.70 range. This movement indicates that the short-term trend structure still leans towards a decline.
One of the factors adding selling pressure in early December is the token unlock of approximately 78 million $ASTER, equivalent to a value of about 86 million USD at that time. As new supply is released amid a sideways market, the pressure for price adjustments is unavoidable.
The platform advantages and long-term story of Aster
Despite facing short-term pressure, Aster still possesses some notable advantages in terms of products. This platform allows for the use of income-generating collateral assets, such as liquid-staking tokens (asBNB) or yield-generating stablecoins (USDF). This helps traders maintain their trading positions while optimizing capital efficiency, a factor that could attract long-term liquidity when the market stabilizes.
In addition, the partnership with WLFI (World Liberty Financial) has certain significance in terms of image and credibility, especially in the context where political and legal factors are increasingly influencing the global crypto market.
What scenarios are there for $ASTER in the near future?
At this time, expecting a strong immediate rebound may be premature. A more reasonable scenario is that $ASTER needs additional time to accumulate, building a solid price base around the demand zone of $0.70. If the price can hold this area and gradually form higher lows, the likelihood of recovery towards the declining trendline will become clearer.
In the context of the overall market still moving sideways, the strategy of 'base first, breakout later' is seen as a cautious approach. Closely monitoring price movements, market structure, and reactions at the current demand zone will play a key role in assessing the next trend for $ASTER.
