Aster has launched the testnet for its layer-1 blockchain, Aster Chain, with plans to roll out the mainnet in the first quarter of 2026. The new blockchain aims to enhance perpetual futures trading with features like zero-knowledge proofs, on-chain central-limit order books, and high transaction speeds. Despite the launch, ASTER faced significant market challenges, with liquidations on long positions reaching $4.47 million in 24 hours, contributing to a 13% price drop. The testnet launch comes as Aster seeks to establish itself as a decentralized alternative to centralized exchanges, offering low fees and resistance to miner extractable value (MEV). However, the market reaction was mixed, with traders experiencing heavy liquidations as the price broke key support levels. The ASTER token showed signs of a short-term bounce but remained in a broader bearish trend, trading below key moving averages.