Binance Labs-backed Aster (ASTER) erased all of its weekly gains amid a broader crypto market downturn. The token initially exploded by 28%, from $0.63 to over $0.82, thanks to the new tokenomics update.
According to the new update, 99% of Aster’s revenue would be spent on token redemption, similar to the design of Hyperliquid. Ideally, this would burn 5 billion ASTER tokens.
But the bullish catalyst encountered a key selling zone in 2026 and a broader market correction that stalled ASTER bulls.
What’s next for ASTER?
On the 12-hour price charts, ASTER’s momentum was bearish, meaning short sellers still dominated the market.
However, driving the price down by 24%, ASTER was close to its June support level of $0.60. If the broader correction deepens, a prolonged pullback to $0.55 cannot be reversed.
Therefore, $0.55 and $0.60 could serve as key supports for potential near-term relief.
That said, if a relief rally ensues, the immediate upside target would be the 200-day MA (blue, moving average) currently at $0.70. This would imply a potential upside of 16%, especially if the ASTER 5B token the burning program starts.
Will Aster lead the altcoin season?
It is worth highlighting that Aster has doubled down on tokenization, a broader narrative that analysts believe could be bullish in the long term for the underlying tokens.
But a much larger altcoin rally, commonly referred to as altcoin season, could remain elusive at least for some select assets. One of the metrics used to assess altcoin momentum is Ethereum’s outperformance relative to Bitcoin, as tracked by the ETH/BTC ratio.
After a rebound between the second and third quarters of 2025, the ETH/BTC ratio is on a downward trend. This meant that it was altcoin season, as BTC dominated the market attention.
That said, ASTER has outperformed BTC over the past 30 trading days. BTC is down around 18% over the same period, while ASTER has only lost 9% of its value. Still, other altcoins such as Hyperliquid (HYPE) and Worldcoin (WLD) have double- and triple-digit gains.
Overall, the 5B ASTER token burn target could be a long-term catalyst for the altcoin’s rebound in the medium term. Especially if the broader market recovers. In the short term, however, the altcoin must contend with current market sentiment.
Final Summary
- ASTER reversed its 28% weekly gains amid the crypto market selloff.
- Aster’s new tokenomics overhaul could be a key bullish catalyst in the medium term.
