ASTER Nears Resistance Amid Spike in Volume and Derivatives Activity

• Trades made through Binance Wallet earn Aster points, which will count in continuing incentive campaigns, competitions and rewards programmes.
• Trading competitors, and the current airdrop campaigns are attracting new users and surging network activity. 

ASTER is now exchanging hands near a key resistance zone, followed by a sharp rise in activity, with price pressing just below levels that formerly capped upside. At the time of writing, ASTER was trading at about $0.7402, down 1.5% on the day. 

In the last week, the price has shifted within a $0.6847 to $0.7736 range, and the token is still down by 10% in the last month. However, trading activity has surged prominently regardless of the muted daily move. 

The 24-hour trading volume of Aster increased by 45% to $378 million, showing renewed interest. And derivatives data shows the same trend. Futures volume surged 46% to $816 million, and open interest surged 2.15% to $454 million, according to the CoinGlass data. 

This mix proposes fresh places are setting foot into the market instead of traders simply shifting current exposure. The surge in activity coexists with the January 14 rollout of perpetual futures trading through Binance Wallet of Aster. 

With leverage of around 100x, the amalgamation permits users to trade on-chain perps straight from self-custody wallets, starting on BNB Smart Chain. Adding more to this, Aster and Binance Wallet also introduced an on-chain perps campaign with rewards of up to 200,000 USDT to back the rollout. 

A Lot More To Come

Trades made through Binance Wallet earn Aster points, which will count in continuing incentive campaigns, competitions and rewards programmes. This spots the recent wallet integration of Aster after similar launches with Trust Wallet and SafePal, making its position more robust as a perps backend for wallet-based trading. 

Looking beyond the perp rollout, there is a lot more coming. The Layer-1 testnet of Aster is now operational, and the team has planned to introduce the mainnet in the first quarter of this year. 

ASTER staking, scheduled for the second quarter, will introduce on-chain governance. At the same time, trading competitors and the current airdrop campaigns are attracting new users and surging network activity. 

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