ASTER (Aster) rose 9.45% in the last 24 hours.

Gate News Bot news, on November 5th, according to CoinMarketCap data, as of the time of writing, ASTER (Aster) is currently priced at $1.00, with a rise of 9.45% in the last 24 hours, reaching a high of $1.26 and a low of $0.82. The current market capitalization is approximately $2.018 billion, an increase of $174 million compared to yesterday.

Aster is a decentralized perpetual contract trading platform that offers multi-chain, high liquidity, and secure non-custodial trading services. The platform supports a hidden order feature, allowing users to conceal the size and direction of limit orders in the public order book. Aster also provides U.S. stock trading services with leverage of up to 100 times, fully settled in cryptocurrency without the need for bridging. The platform emphasizes cross-chain trading, deep liquidity, and advanced trading tools, suitable for all types of traders.

Important news about ASTER recently:

1️⃣ Large short selling operations trigger market fluctuations An investor shorted $25 million worth of ASTER on the HyperLiquid platform, continuously placing sell orders around $1.1841, attempting to further expand their short position. Another whale shorted 42.966 million ASTER with 3x leverage, worth approximately $51.3 million. These large-scale shorting operations have put significant pressure on the ASTER price and are one of the main factors leading to the recent significant price fluctuations.

2️⃣ Binance founder CZ publicly purchases ASTER CZ publicly disclosed that his account holds approximately 2.09 million ASTER, with an average purchase price of about $0.913. This move brought some positive sentiment to ASTER in the short term, leading to a brief price rise. However, the market soon began to question the authenticity and impact of this action, resulting in significant price fluctuations.

3️⃣ Buyback and Burn Plan Optimization Aster announces adjustments to the S3 repurchase and airdrop mechanism, with 50% of all repurchase funds to be destroyed through a public repurchase address, reducing supply and consolidating the long-term value of ASTER. The remaining 50% will flow back to the locked airdrop address, reducing circulation and reserving more shares for potential future airdrops. This initiative aims to optimize the token economic model, providing stronger and long-term value support for users and holders.

From a technical perspective, the ASTER price has shown a significant rebound in the past 24 hours, with a rise of 9.45%. Although the optimization of the buyback and burn plan may provide long-term support for the token's value, large short-selling activities and market skepticism regarding CZ's buying actions still exert pressure on the price in the short term. Given the complexity of the current market sentiment and price trends, investors need to closely monitor subsequent movements of large funds and the responses of the project team.

This message is not intended as investment advice, and investors should be aware of market volatility risks.