Foreign media: ASTER retraces its weekly gains and approaches key support.
AMBCrypto
06-20 06:22
Ai Focus
ASTER gave back its weekly gains, with foreign media reporting that it is approaching the $0.60 support level in the short term, and its buyback and burn program may provide medium-term support.
Helpful
No.Help

ASTER previously surged due to adjustments in token economics, but subsequently retreated along with the overall crypto market, essentially erasing its weekly gains. Foreign media reports suggest this rally was primarily driven by buyback expectations, but short-term selling pressure and broader market corrections limited its sustainability.

99% of revenue is intended for share buybacks.

According to Aster's latest plan, 99% of the protocol's revenue will be used for token buybacks, a design similar to Hyperliquid's approach. The article states that if this mechanism continues, it could theoretically burn approximately 5 billion ASTER tokens.

This adjustment initially spurred the token to rise from $0.63 to above $0.82, a weekly gain of 28%. However, the rally subsequently stalled, and the price returned to the vicinity of the previous support zone.

Short-term focus is on the $0.60 area.

Foreign media believe that, based on the 12-hour chart, the market remains bearish, with sellers currently in control. After a pullback of approximately 24%, the price is approaching the $0.60 support level established in June.

If the market correction continues, the price could potentially fall further to $0.55. The article considers $0.55 and $0.60 as relatively important short-term support levels.

If the market experiences a technical rebound, the first resistance level to watch is around the 200-day moving average, which is approximately $0.70. This means that if sentiment improves, prices may have some room to rise, but this is contingent on the overall market stabilizing.

Whether it can outperform the altcoin market remains to be seen.

The article also mentions that Aster is continuing to strengthen its tokenization narrative, a direction some analysts see as beneficial for related tokens in the medium to long term. However, the overall altcoin market is not uniform, with funds still largely concentrated in Bitcoin.

The article cites the ETH/BTC ratio as one of the indicators for observing the strength of altcoins, and points out that the ratio has turned downward after rebounding in the second and third quarters of 2025, indicating that Bitcoin is still the main theme of the market.

However, looking at the past 30 days alone, ASTER still outperformed Bitcoin. The article states that Bitcoin fell by about 18% during the same period, while ASTER fell by about 9%. But compared to tokens with higher gains such as HYPE and WLD, ASTER's relative strength is not particularly outstanding.

Overall, foreign media believe that buybacks and potential burn targets may still be supporting factors for ASTER's medium-term recovery, but the short-term direction still depends on whether the overall risk appetite in the crypto market improves.

Tip
$0
Like
1
Save
1
Views 345
HKWDB reminds readers to view blockchain rationally, stay aware of risks, and beware of virtual token issuance and speculation. All content on this site represents market information or related viewpoints only and does not constitute any form of investment advice. If you find sensitive content, please click“Report”,and we will handle it promptly。
Submit
Comment 0
Hot
Latest
No comments yet. Be the first!
Related
CFTC Chairman Says Binance Hacker Attack Indicates That Offshore Exchanges Need US Regulation
Michael Selliger, chairman of the U.S. Commodity Futures Trading Commission (CFTC), stated that the $6.4 billion hack incident at Binance “precisely demonstrates” the necessity of the crypto market regulations proposed by the agency this month. He described the attack as being more likely caused by a vulnerability introduced through a laptop rather than a flaw in the blockchain itself; however, Binance later indicated that the investigation had uncovered “more entry points” for the attack.
Decrypt
·2026-10-31 23:10:23
9
Intel experiences its largest single-day decline in over forty years; the NASDAQ falls nearly 3%, gold drops to a one-year low, and crude oil continues to rise for four months in a row.
Amazon and Intel's financial reports disappointed the market. Investors are increasingly skeptical about the returns on the huge AI expenditures of these tech giants. All three major U.S. stock indices closed lower, with tech stocks leading the decline, while energy and essential consumer goods sectors performed strongly against the trend. Driven by the Middle East situation, crude oil prices rose to a six-month high; U.S. Treasury yields fell, gold dropped to a one-year low, and Bitcoin lost its support below $77,000.
Wallstreetcn
·2026-10-31 22:30:06
25
I went on vacation with two iPhone, and Duo convinced me to do so.
The author tried out Apple's new iPhone Duo during a five-day vacation. Initially, due to application issues, Touch ID, and the camera, among other factors, they considered returning to their original iPhone. However, by the end of the trip, they changed their mind, finding that although this foldable phone has its shortcomings, it is indeed fascinating.
TechCrunch
·2026-10-31 22:21:57
27
Neuberger Next Generation Connectivity Fund Announces an Increase in Allocation Rate and Reveals the Monthly Allocation for Next Month
Neuberger Next Generation Connectivity Fund Inc. (NYSE : NBXG) announces a distribution of $0.132 per common share, to be paid on November 30, 2026, with the record date and ex-dividend date both set for November 16, 2026. The fund states that under its actively managed distribution policy, future monthly distributions are expected to be $0.132 per share, but whether this can be maintained depends on market conditions, investment returns, capital gains, and expenses, among other factors.
PR Newswire
·2026-10-31 22:21:54
28
After Binance was attacked by hackers, how should investors protect the security of their crypto assets?
On October 29, Binance was attacked by hackers, with an estimated loss of $6.3 billion, which has drawn external attention to the recovery of stolen funds, the exchange's compensation commitments, and the lack of a similar deposit insurance protection mechanism for crypto assets like FDIC. Experts say that whether an exchange compensates usually depends on its own willingness and financial capability, and while self-hosting by individuals can reduce some platform risks, it also brings new security hazards.
CNBC
·2026-10-31 22:11:08
33
View More