- ASTER’s price plummeted by over 50% following the DeFiLlama delisting and Binance token transfer, signaling significant market uncertainty.
- A delay in ASTER’s Phase 2 airdrop and concerns over market sentiment added to the pressure, further driving down the token’s value.
- ASTER is attempting to recover, with a push above $1.50 crucial to reversing bearish momentum and triggering a potential rally.
ASTER’s price recently endured a sharp 50% drop from its peak of $2.30, triggered by several negative catalysts that piled pressure on the cryptocurrency. After breaking below the critical $1.50 level, the token dropped as low as $1.10 before stabilizing around $1.15. This price action follows the formation of a double-top pattern, which is often seen as a bearish signal in technical analysis.
One of the primary reasons for ASTER’s sell-off was its delisting from the DeFiLlama platform, a major analytics tool in the decentralized finance space. The delisting occurred after DeFiLlama raised concerns over ASTER’s liquidity, specifically regarding unusual correlations between its trading volumes and Binance. This delisting sparked initial selling pressure, which was followed by further drops after the news that over 6.1 million ASTER tokens worth approximately $12 million were moved to Binance. This transfer was suspected to be linked to Galaxy Digital, adding to the uncertainty surrounding the token’s liquidity.
Airdrop Delay Adds to the Volatility
Adding fuel to the fire, ASTER’s Phase 2 airdrop was delayed on October 10 due to issues with its allocation checker tool. The tool failed to ensure accurate distribution, causing frustration among users and further undermining confidence in the project. The airdrop was originally set for October 14 but has now been pushed back to October 20. This delay coincided with broader market fears, particularly the global economic tensions spurred by the U.S.–China tariff disputes, contributing to a risk-off sentiment.
Despite the steep decline, ASTER appears to be attempting a recovery. The price has found support around the $1.15 mark, showing signs of stabilization. However, for a meaningful recovery to take place, the token must reclaim the $1.50 resistance level. Should bulls manage to push past this price point, a recovery rally toward $1.75 or even $2.00 could be on the horizon. However, rejection at this critical level could reignite bearish momentum, potentially dragging the price back toward the $1.00–$0.70 range.
While ASTER faces significant challenges in the near term, market observers are watching closely for signs of recovery. The next few days will be crucial in determining whether the token can regain its footing or if the sell-off will continue.
