Aster DEX Initiates Fifth Phase Buyback Program

Aster DEX has announced the initiation of its fifth buyback phase on December 23, allocating 80% of daily fees towards ASTER token buybacks.

This move aims to reduce ASTER’s circulating supply, potentially stabilizing its market value, although no immediate price impact or official confirmations have been reported.

Aster DEX Targets ASTER Supply with Strategic Buybacks

Aster DEX launches its fifth buyback program with an emphasis on reducing the ASTER token’s circulating supply. The platform has committed to using 80% of daily fees for this objective. The allocation includes 40% for automatic buybacks, while 20-40% is set aside for strategic purchases.

The ongoing buyback signifies a focus on mitigating ASTER token volatility, although the token’s market value has displayed fluctuations. Previous buyback phases completed, having burned a significant 7.11% of its circulating supply.

ASTER Price Faces Volatility Despite Buyback Initiatives

Did you know? Despite significant buybacks intended to stabilize ASTER, historical data reveals that the token price slid 37.36% over the past 30 days, highlighting potential challenges in maintaining value.

According to CoinMarketCap, Aster (ASTER) currently trades at $0.73 with a market cap exceeding $1.82 billion. The past 24 hours saw a 1.73% increase in value, although ASTER experienced an 18.86% drop over the last week. Trading volume today reached $168.22 million, declining substantially over 90 days by 59.83%.

The Coincu research team suggests that ongoing buyback efforts could influence short-term ASTER liquidity and supply. However, broader regulatory developments or market sentiment will likely determine the token’s future performance.