455K ASTER Tokens Burned, Circulating Supply Tightens Amid Stable Price

TL;DR:

• Strategic deflation: The Aster team has removed 911,000 tokens from circulation, split between a permanent burn and a strategic transfer to the Treasury.
• Resilience in derivatives: Perpetual contract volume remains stable above $2,250 million, signaling solid risk appetite amid consolidation.
• Critical technical levels: ASTER struggles to turn $0.76 into support, while the RSI flirts with the bullish zone after recovering short-term moving averages.

To counteract selling pressure, this Monday Aster executed a new reduction of its circulating supply, achieving a 2.37% rally placing its price at $0.702 after rebounding from local lows.

This maneuver is part of an aggressive buyback policy that totals $187 million so far. Aster seeks to generate scarcity in a digital asset market marked by persistent sideways movement over the last month.

Deflation and derivatives: The pulse between supply and demand

The Aster-Dex protocol confirmed the removal of 455,982 ASTER through a permanent “burn,” while a similar amount went directly to the Treasury contract. So far, $123.63 million in market value has been withdrawn, a move designed to absorb the impact of liquidations and stabilize market sentiment.

Despite the volatility, data from Defillama reveals that open interest remains steady at $2,100 million. This capital inflow into the derivatives market suggests that whales and professional traders have not abandoned their positions, maintaining a trading volume exceeding $2.25B over the last three weeks.

On the daily chart, ASTER managed to break above its 20 and 50-period EMAs ($0.697 and $0.698). However, market sentiment remains cautious: the RSI stands at 52 points, right on the threshold separating consolidation from a purely bullish trend.

In summary, to validate a sustainable rally, ASTER must achieve a daily close above the $0.76 resistance. If successful, the next technical target is located at the 200 EMA at $0.79. Conversely, if the burn momentum fades, the key support at $0.66 will be the last line of defense before a major correction in its market capitalization.