Aster's Price Plummets After 28% Rally Amid Crypto Market Correction

Aster [ASTER], backed by Binance Labs, has lost its weekly gains after a significant price jump. The token initially soared 28%, rising from $0.63 to over $0.82 due to the new tokenomics update.

The update channels 99% of Aster revenue into token buybacks, similar to Hyperliquid's design. This could help burn 5 billion ASTER tokens.

However, the bullish catalyst met a key sell zone in 2026 and broader market correction that stalled ASTER bulls.

According to the 12-hour price charts, ASTER momentum was bearish, with short-sellers dominating the market. The price dropped by 24%, nearing its June support level of $0.60.