Aster accelerates acquisition of 7,500 USD per minute — Can the bulls hold the 1 USD mark?

Aster (ASTER) made an impressive breakout, increasing by 11.36% to reach a local peak of 1.16 USD, before gently adjusting down to 1.11 USD at the time of writing.

Notably, at the same time, the trading volume of ASTER surged to 667 million USD, an increase of up to 90%, reflecting strong demand and new capital flowing into the market.

What really triggered this price surge?

Aster's buyback creates new momentum

After a period of price volatility and closing sessions at slightly higher lows, the Aster team decided to intervene strongly by enhancing the token buyback program.

Specifically, the buyback rate of ASTER has been increased from 5,000 USD/minute to 7,500 USD/minute, a 50% increase. If this level is maintained, the team expects to spend up to 10 million USD per day to buy back tokens, creating significant price support pressure.

In just the past 24 hours, 2.4 million ASTER have been repurchased. In total, since the buyback program started, Aster has spent 39 million USD to buy 37.7 million tokens. Of these, about 50% have been burned, reducing the circulating supply by nearly 18 million tokens, thereby tightening supply in the market.

Source: AsterlifyThe highlight of this initiative is its strategic nature: it is not only a deflationary measure but also helps stabilize prices, especially during sensitive market times.

Strong demand for Spot trading

After the buyback program was implemented, the buying sentiment in the Spot market became noticeably positive.

The net Spot cash flow of ASTER has recorded a decrease for the third consecutive day, reaching -8.04 million USD, as Outflows of (129.28 million USD) still exceed Inflows of (121.24 million USD).

This continuous negative flow reflects the increasing accumulation pressure, indicating that traders prefer to hold tokens in hand rather than transferring them to exchanges.

Source: CoinGlass## Futures investors race along with the upward trend

Notably, after the recovery signal of Aster, capital quickly flowed into the (perpetual) contracts as investors began to position their strategies. According to data from Artemis, the number of Perpetual transactions surged to 4.7 million, while the volume reached 11 billion USD.

Source: ArtemisThe simultaneous increase in both volume and number of transactions clearly reflects the lively participation and strong capital flow into the futures market. Investors are actively opening short or long positions, waiting for the next price move.

Notably, the Long/Short ratio has jumped to 3.83, with 79.28% of positions being long, indicating that the majority of traders expect Aster to continue its upward trend in the near future.

Source: Coinalyze## Can ASTER maintain above 1 USD?

The Stochastic Momentum index on TradingView has surged to a level of 18, indicating that buying pressure is dominating the market.

If this momentum continues, ASTER has the potential to conquer the next resistance level at 1.17 USD according to the Parabolic SAR signal and aim for the target of 1.23 USD.

Source: TradingViewConversely, if demand weakens, the price may retreat to the support level of 1.00 USD. Nevertheless, the upward trend remains sustained as long as ASTER stays above this important support level.

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