Here’s why the Aster price is rallying today and what next
Aster price jumped by more than 360% on Sept. 18 after its airdrop and a mention by Binance’s Changpeng Zhao.
- Aster price went parabolic after launching its airdrop.
- The rally continued after being mentioned by Changpeng Zhao.
- Data shows that it volume and total value locked soared.
Aster (ASTER), formerly known as APX jumped to $0.72, with its market cap jumping to over $1.16 billion. The fully diluted valuation soared to $5.6 billion.
Aster price jumps after airdrop and as its key metrics soar
The main reason Aster’s price soared is that it launched its airdrop, which will run until October 17. This airdrop will distribute approximately 704 million tokens, or 8.8% of the total allocation, to eligible participants.
Eligible participants are those who earned Rh or Au points from the Aster Spectra Stage 0 and 1 points program, users who received Aster Gems allocations, and those who traded on Aster Pro during the trading window. Binance’s founder was among the first to congratulate the developers.
Aster price also jumped because of its strong fundamentals. Data compiled by DeFi Llama shows that its perpetual futures platform has handled over $12 billion in volume this month. It handled $9.78 billion in volume in August and $8.5 billion in July.
Another metric indicates that its trading activity has generated $8.82 million in fees so far this quarter, significantly higher than the $1.8 million it earned in the same period last year. Revenue has jumped from just $11,660 in Q3 2024 to $5.4 million today.
Aster’s total value locked has reached a record high of $1.85 billion, up from $141 million in January.
Will the Aster Coin price rally continue
Aster’s price has jumped sharply after its token generation event and CZ’s mention. This rally could continue as new cryptocurrency exchanges start to list it, as it is currently only available on Aster. It is common for newly minted coins to rise after being listed by major exchanges.
However, the coin will likely take a breather as airdrop recipients start to sell to preserve profits. Many newly listed tokens that jump initially often decline when this happens.
For example, Donald Trump’s World Liberty Finance (WLFI) and Official Trump (TRUMP) tokens soared initially and then plunged. The same happened with other recently launched tokens like Spark and Avantis.
