Aster started the week trading above $2.28 before entering a consistent downward trend. The token dipped below $1.60 after several failed rebound attempts.
The altcoin had dropped sharply from around $1.79 before finding support near $1.50, marking its lowest level. After repeated fluctuations, the token rebounded strongly and climbed back above $1.65.
As of this writing, Aster is exchanging hands at around $1.69 with a 24-hour loss of 3.96%.
Source: CoinMarketCap
ASTER token bounced from local lows of $1.50, recovering the $1.70 level after a volatile trading session.
The sharp decline, which briefly erased 30% of the asset’s value and reduced its market cap by $1 billion, came as the broader crypto market faced uncertainty.
The recovery gained momentum after Binance founder Changpeng “CZ” Zhao commented that the downturn reflected weak hands being shaken out.
Market reaction and investor sentiment
The sell-off followed Zhao’s remarks during an X Space hosted by @Shillin_villian, where he discussed both risks and opportunities surrounding the Aster decentralized exchange (DEX).
Despite investor concerns over alleged non-organic activities such as sniped supply and wash trading, Zhao expressed long-term confidence in the project.
According to X Spaces moderator Alex, Aster maintains unusually high mindshare despite its underperformance in price. He noted that the project has shown profitability since its launch, suggesting underlying strength.
Investors have voiced frustration over the slow token price movement, with speculation that external pressures may be holding it back.
Growth of Aster DEX and exchange listings
The Aster perp DEX continues to generate significant trading fees, with more than $15 million collected daily and a record $25 million on September 28.
This performance highlights the platform’s growth and its ability to compete with established players such as Hyperliquid.
Zhao reiterated that Aster’s profitability gives it the foundation to challenge leading perpetual exchanges in the sector.
Currently, ASTER trades on Bybit, Gate, and MEXC, while expectations are building for major listings in October. Unlike HYPE, which launched on its own native platform, ASTER relies on open market dynamics.
This exposes the token to volatility as retail investors react to short-term swings instead of long-term value. Despite this, the project’s strong fee generation and ecosystem support continue to draw attention.