The crypto market is buzzing with excitement over ASTER, a project that’s managed to pull in over 35% of total crypto revenues. This is despite it holding just 0.8% of the entire market cap. The recent action around ASTER has been electric, as influencers like MrBeast have bought nearly $1.53 million worth of tokens. What is more impressive is that BlackRock has scooped up $12 million through Coinbase OTC deals.
Huge names and tons of hype should equal green candles, right? Not always. Despite peaking at $2.42 just seven days ago, ASTER’s price has tumbled 16.85% in one day to $1.55. Trading frenzy is intense: $1.32 billion changed hands in the last 24 hours, a 14.27% surge, but sentiment has clearly shifted as traders brace for major technical and supply shocks.
ASTER Price Analysis:
Zooming in on the charts, ASTER price fell sharply below its 7-day SMA at $1.93 and pivot point at $1.70, both of which now act as solid resistance. The RSI has cooled from overbought territory and hovers in the mid-30s, signaling that momentum has decidedly flipped bearish. The $1.80 line, formerly crucial support, has flipped into resistance. Thereby making the $1.50 mark a make-or-break level.
Successively, technical weakness is being amplified by selling ahead of a massive airdrop. Almost $503.58 million worth of ASTER tokens are set to unlock in October, with the immediate risk of a flood of new supply hitting markets. CEO Leonard has hinted at possible vesting to stagger these unlocks, but nothing’s confirmed.
Adding to the selling pressure, some of the largest whales who previously rotated over $100M from Hyperliquid are now taking profits, especially as airdrop claimants are likely to sell at least a portion when tokens become liquid. Historically, projects with big airdrop unlocks have struggled unless clear vesting or incentives are enforced.
Despite this, there are glimmers of long-term upside. ASTER’s protocol consistently rakes in more fees than even Tether and is generating ten times more than Hyperliquid, as influencer Lark Davis notes. With heavyweights like MrBeast and BlackRock accumulating, and Fidelity slapping an ambitious $50 price prediction by 2026, the dip could be a reset before the next aggressive move—if ASTER can weather this month’s unlock and avoid a panic dump.
FAQs
The main reason is extreme selling pressure ahead of a huge airdrop unlock. Some whales are taking profits after prior gains, while traders are front-running potential post-unlock dumps.
Absolutely. ASTER’s fee revenue leads the industry, major funds are buying, and if protocol buybacks or new incentives are announced post-airdrop, upside could resume quickly.
