Aster News: Aster DEX Accelerates Daily Buybacks to $3M

Aster DEX accelerates daily buybacks to $3M, totaling $214.03M. $ASTER tokens repurchased, fueling speculative demand.

Aster DEX has significantly increased its buyback program. The total amount of buybacks executed on the platform is $214.03 million. It has also held $2m to $3m in daily buybacks since October 28th. This consistent effort strengthens its commitment to token value.

Aster DEX Intensifies Buyback Program Amidst Market Interest

An estimated 143.38 million $ASTER tokens have been bought back. This is 7.11% of the circulating supply being offset. The buybacks are paid for using protocol revenue and the treasury. This strategic approach is to reduce the supply and support the price of the token.

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The record buyback rate follows increased attention on the markets. Binance founder Changpeng Zhao (CZ) reportedly bought more than $2 million ASTER tokens. This action caused speculative demand. CZ then also revealed that he is not a trader. Instead, he purchases digital properties and holds them for the long-term.

At the time of writing, according to CoinMarketCap, the live price of ASTER token is around $1.03 USD. This is a valuation that reflects current market action.

Aster DEX has expedited its daily buybacks to around $3 million in value of its native $ASTER tokens. This is part of its ongoing token burn and incentive programs. This number has been in the news recently, both on social media and in crypto news. It notes a significant commitment to lowering token supply. This is also to increase the value of the token.

Aster DEX uses some of the trading fees collected to perform buybacks and burns of tokens on a continuous basis. This is a common mechanism in the DeFi. It helps in reducing the supply and helps the price stability of the token. Recent reports say the amount of buybacks per day has reached about $3 million. Total buybacks soon to be close to $50m.

Aster DEX is a decentralized exchange. It specializes on perpetual and spot trading. It works with several blockchains. These include BNB Chain, Ethereum, Solana, and Arbitrum. The multi-chain presence increases the reach and accessibility.

Strategic Backing and Market Performance of Aster 

The platform has a native token under the name of ASTER. This is a token used for governance. It also offers fee discounts. Furthermore, it is under buyback programs financed by trading fees. The buybacks, paid for from protocol revenue, are aimed at decreasing the supply of tokens. 

Aster DEX is a company that resulted from a merger. This merger was between Astherus and APX Finance in the late 2024. Its strategic backing consists of YZi Labs, a spin-off of Binance Labs. This strong support creates a strong foundation. A public endorsement from CZ also helped to significantly increase its early market performance.

These are strategic aspects that combine and form a good market position for Aster DEX. The accelerated buyback program, institutional interest and good infrastructure contribute to its growth. The constant reduction in circulating supply is an important factor. It is a support to the long-term value proposition of the token.