Key Takeaways
- $ASTER surged to nearly $1.94 at launch but quickly lost momentum, dropping 33% to lows of $1.33.
- The token has since rebounded to around $1.74.
- $ASTER has major support from Binance founder CZ and YZi Labs and is positioned as a fierce Hyperliquid competitor.
The $ASTER token, launched last week, has endured a brutal first few days of trading, shedding 33% of its peak value before showing signs of recovery on Tuesday, September 23.
Despite an explosive debut and major backing from Binance founder CZ, the token’s dip has raised questions about its longevity.
However, some analysts believe the token has much higher to climb.
$ASTER Price Dips
The launch initially sparked heavy buying, pushing the price close to $1.94 in early trading.
But in the days that followed, momentum significantly dipped.
According to CoinMarketCap data, the token fell as low as $1.33 in overnight trading on 22 September, before partially recovering to $1.59 later that morning.
- $ASTER has shown signs of recovery | Source: CoinMarketCap
However, the price has since shown signs of recovery, and at the time of writing, it is hovering at $1.73, up over 16% in the last 24 hours.
Trading volumes remain enormous, topping over $2.2 billion in a single day, underlining a fierce push of early buyers and sellers.
What Is $ASTER?
Aster is a new Hyperliquid competitor that has taken the crypto world by storm due to its strong backing from Binance founder CZ and his family investment office, YZi Labs.
Following its launch on 17 September, it distributed 704 million tokens to early participants while also offering a migration path for holders of APX.
Unlike many projects where airdrops trigger heavy sell-offs, ASTER defied expectations by continuing to pump aggressively.
The token is currently available on most major exchanges for perpetual futures trading.
What Happens Next?
The potential for what happens next will depend on whether the selling pressure can subside.
According to CCN analyst Victor Olranrewaju, the sharp retreat “was likely fueled by profit-taking after its explosive rally.”
He argues that signs of relief are already emerging.
“The Chaikin Money Flow has risen above the zero line, showing that capital inflows are returning and that the token is no longer in overbought territory,” Olranrewaju noted.
He also pointed to whale accumulation, which appears to be picking up after the dip.
“If this trend continues, ASTER may avoid a prolonged correction and set its sights on higher highs,” he said, suggesting that $2.50 could be the next primary target.
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Kurt Robson is a London-based reporter at CCN, specialising in the fast-moving worlds of crypto and emerging technology. He began his career covering local news in Cornwall after graduating from Falmouth University with First Class Honours in Journalism. There, he cut his teeth on everything from council meetings to missing swans.
He quickly rose through the ranks to become a frontline journalist at several of the UK’s leading national newspapers. Over the years, he has interviewed musicians and celebrities, reported from courtrooms and crime scenes, and secured multiple front-page exclusives.
Following the upheaval of the COVID-19 pandemic, Kurt shifted his focus to technology journalism—just ahead of the AI boom. With a natural curiosity and a trained eye for emerging trends, he has found a new rhythm in reporting on innovation.
At CCN, Kurt's work focuses on the cutting edge of crypto, blockchain, AI, and the evolving digital world. Drawing on his background in people-first reporting and his deep interest in disruptive tech, Kurt delivers stories that are insightful, entertaining, and human-centric.
