Aster hits two-week high after 2.85 million ASTER token burn

ASTER previously rose to a two-week high of $0.607 as trading volume jumped 49% to $56 million after Aster burned 2.85 million tokens worth about $1.74 million, taking cumulative destroyed supply to 188.87 million ASTER. The token's supply squeeze has since been reinforced by a broader reduction strategy: Aster has allocated 99% of daily platform fees to buybacks, burned more than 11 million tokens since June, and promoted staking that has locked roughly 5.3% to 8.1% of supply. Exchange outflows have also tightened available circulation. Token burns and buybacks are commonly used to reduce tradable supply, while staking can further constrain liquidity by removing tokens from the market.

The information on this website is generated using AI and we cannot guarantee its accuracy. Please use it as reference information only.