Aster has ramped up its buyback program by 50%, spending $7,500 per minute, totaling $39 million in the past 24 hours. This aggressive buyback led to the burning of 18 million tokens, contributing to a price surge of 11.36% to a local high of $1.16, before settling at $1.11. The trading volume also saw a significant increase of 90%, reaching $667 million, reflecting heightened market interest.
The buyback initiative is part of Aster's strategy to reduce token supply and stabilize its price. Despite the positive price movement, spot netflow turned negative at -$8.04 million, while perpetual trading volume soared to $11 billion, indicating a shift towards futures market activity.
Aster Increases Buybacks by 50%, Token Price Peaks at $1.16
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