- ASTER soared 600% in a week, nearing a $1B market cap after its explosive launch and airdrop.
- Withdrawals remain locked until October 1, raising fears of heavy selling pressure once unlocked.
- Short-term indicators show consolidation, with $0.74 as resistance and $0.60 as key support.
ASTER, the native token of Aster DEX, delivered a 600% surge in its first week, pushing market cap near $1 billion. The token rallied 50% in 24 hours, hitting an all-time high of $0.7847 before sliding back to $0.59 at press time, per CoinMarketCap.
The launch followed ASTER’s token generation and airdrop. Unlike most airdrops that trigger fast sell-offs, ASTER held gains and clocked $310 million in day-one volume. From a $0.0089 listing price, it spiked above $0.50 before stabilizing near $0.45.
Related: Hyperliquid Faces a New Challenger – YZi-Backed Aster (ASTER) Rallies 400%; $0.50 Next
October 1 Unlock
Aster confirmed on X that ASTER is tradable only on its Aster Spot platform, with withdrawals locked until Oct. 1.
This unlock has become the main narrative traders watch. Google searches for “ASTER unlock date” and “ASTER volatility” have surged, reflecting concern over whether sell pressure from early claimants could cap momentum.
Related: Aster DEX Faces Withdrawal Snags as Token Rallies to $0.40 With Eyes on Hyperliquid
ASTER’s Massive Price Surge
ASTER’s token generation and airdrop earlier this week has been driving the rally. Unlike most airdrops, which tend to spark immediate sell-offs, ASTER challenged the trend.
The token launched at just $0.0089 and quickly skyrocketed to $0.50 before stabilizing near $0.45. By the end of its first day, ASTER had delivered a staggering 1,650% gain and generated more than $310 million in trading volume.
The Aster DEX also attracted over 330,000 new wallets in a single day, with total value locked climbing to more than $1 billion.
Support from Binance’s CZ
Former Binance CEO Changpeng Zhao (CZ) publicly acknowledged ASTER’s progress, boosting investor confidence.
With backing from CZ-linked Yzi Labs and other affiliates, Aster has quickly built credibility as a multi-chain decentralized exchange spanning Ethereum, BNB Chain, Solana, and Arbitrum.
Its early metrics are staggering with $500 billion in cumulative trading volume, $400 million TVL locked, $50 million+ in revenue, and a user base of more than 2 million.
ASTER Price Analysis in the Short-Term
The 1-hour chart shows ASTER consolidating after its vertical rally. The price is currently trading at $0.618, stuck between the middle and upper Bollinger Bands, indicating reduced volatility after the explosive move.
The balance of power indicator leans bullish, while accumulation/distribution remains strong, reflecting steady buying pressure.
Relative Strength Index (RSI) sits at 58, suggesting ASTER has cooled off from overbought conditions but still maintains upward momentum. Meanwhile, the Choppiness Index at 55 signals the potential for a breakout move in either direction.
If ASTER breaks above resistance at $0.74, momentum could propel the token back toward its $0.78 high and potentially into the $0.80–$1.00 range, provided buying pressure continues.
On the other hand, the failure to hold support near $0.60 could drag ASTER toward $0.50, the lower Bollinger Band. A break below this level may trigger panic selling, especially with the October 1 unlock looming as a risk factor.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
