The price of Aster (ASTER) jumped more than 10% in the past 24 hours, rising to around $0.66 and outperforming the broader crypto market, which has remained mostly flat. Analysts say the rally is mainly being driven by rising activity on the Aster decentralized exchange and a recent technical breakout.
The biggest reason behind the price increase is a sharp rise in trading activity on the Aster perpetual futures exchange. Over the last 24 hours, Aster’s DEX processed more than $3 billion in trading volume, bringing it closer to sector leader Hyperliquid.
Higher trading activity typically increases demand for the ASTER token because it is closely linked to the platform’s usage. This surge in utility provides a stronger fundamental reason for the price rally rather than purely speculative buying.
Aster’s price also moved above the important $0.65 resistance level, a technical breakout that often signals improving short-term sentiment. The move was supported by a 27% jump in overall trading volume, suggesting strong participation from traders and momentum buyers.
If the token continues to hold above the $0.65 level, the next potential upside target could be near $0.80 in the short term.
Despite the positive momentum, traders are also watching a scheduled token unlock on February 17, which could temporarily increase supply in the market and create volatility. If the price falls back below $0.65, analysts warn the token could retest lower support levels near $0.59.
Overall, Aster’s latest rally appears to be driven by a combination of strong exchange usage, rising trading volumes, and a technical breakout. The key question for the coming days will be whether the platform can maintain high trading activity and hold above the newly reclaimed support zone ahead of the upcoming token unlock event.
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
The US Office of the Comptroller of the Currency expects to publish its final rule…
The market-implied chance of Bitcoin reaching $100,000 before Christmas has fallen 2.8 percentage points in…
Algorand is making a case for a comeback, and the Algorand price prediction now has…
PYTH has broken out of a long-standing descending channel on the weekly chart, and the…
Zcash price prediction just got trickier. ZEC surged roughly 48% between September 15 and September…
As the crypto market has come under extreme bearish influence, the Ethereum price plunged hard…
