Key Takeaways
What triggered Aster’s 105% surge, and how did whales impact its price?
Aster’s significant price surge was primarily driven by the 1.1 APX to Aster token swap, which created increased demand for the token.
Can Aster’s price rally continue, or is it likely to pull back?
If speculation fades and the hype diminishes, Aster’s price may retreat back to the $0.54 level.
Aster [ASTER] surged 105%, hiking from $0.38 to a new all-time high of $0.78 before retracing. In fact, at the time of writing, Aster was trading at $0.6512, marking a 55.12% increase on daily charts.
Over the same period, the altcoin’s market cap surged 51% to $1.3 billion, while Volume jumped 25% to $400 million. Such as a spike in both indicated steady capital influx and growing on-chain activity.
But what inspired the Uptick?
Why is Aster Crypto up today?
According to AMBCrypto’s analysis, Aster’s recent price surge was primarily driven by the 1.1 APX-to-Aster token swap.
Once the swap went live, holders rushed to convert their APX, triggering a wave of demand that pushed Aster’s price higher.
Binance also stepped in to support the swap, suspending APX trading on the 19th of September to facilitate the transition. All APX held by Binance Alpha users will be automatically converted to Aster.
Adding to the momentum, Binance’s former CEO CZ amplified the news through his social media posts, further fueling interest and market activity.
CZ took to his X (formerly Twitter) account and shared the altcoin’s price charts and added that,
“Well done! Good start. Keep building!”
Many market players and investors viewed this as an endorsement for the token, thus driving market participation.
Finally, Aster unlocked 704 million through aidrops, but unlike the common trend where unlocks result in sello
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Author: Gladys Makena
