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ASTER to Launch Phase 2 Airdrop on October 10 as Open Interest Tops $5B in Two Weeks

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ASTER to Launch Phase 2 Airdrop on October 10 as Open Interest Tops $5B in Two Weeks

Highlights

  • ASTER confirmed its second airdrop phase will open for claims on October 10, with token distribution starting from October 14.
  • The next phase introduces advanced reward mechanics including spot trading bonuses, scoring tiers, and team-based multipliers.
  • Open interest in ASTER derivatives surged from zero to $5 billion in just two weeks.

ASTER has announced that the roadmap for its second airdrop phase is set to begin on October 10. This comes as open interest skyrocketed to $5 billion in under two weeks.

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ASTER Airdrop Phase 2 Begins October 10

In a recent X post, the team confirmed that the Genesis Stage 2 airdrop will conclude on October 5, with reward claims opening on October 10 and token distribution starting from October 14. These rewards will carry no lock-up period, allowing participants to use their tokens immediately.

Stage 3, known as Aster Dawn, will continue unhindered for five weeks, ending on November 9. A more complex reward system is introduced in this phase. It includes spot trading incentives, multi-dimensional scoring, and symbol-specific multipliers.

Team boosts will also evolve, carrying over progress instead of resetting weekly. This would create more substantial incentives for long-term collaboration.

This new move comes after the bullish momentum surrounding the token. ASTER was spotted moving into Binance wallets. This has led to speculation about an imminent listing. On-chain data showed a small test transfer of just 20 tokens. This was followed by a significantly larger transaction of $4.8 million.

Former Binance CEO CZ’s endorsement of the coin has further heightened expectations as traders wait for confirmation. A Binance listing could open the project to millions of retail and institutional investors.

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Open Interest Skyrockets to $5 Billion

The token’s performance in derivatives markets has been nothing short of explosive. Data shared by analyst Fefe Demeny showed the project’s open interest racing from near zero to $5 billion in just two weeks. This is equivalent to a third of HyperliquidX’s total OI.

Source: X

Despite Hyperliquid’s fully diluted valuation of $50 billion compared to ASTER’s $13 billion, the rapid growth underscores the market’s willingness to deploy capital on the platform. CoinGape reported that the DEX outpaced Hyperliquid for the first time in terms of open interest. This was after a jump from $3.72 million to $1.25 billion in open interest.

The coin has also gained attention from high-profile figures. YouTube star MrBeast reportedly purchased more than 167,000 tokens worth $320,000 in recent days. This brought his total investment to $1.28 million. 

The token has been on a volatile ride. The coin rose from $1.50 to a recent high of above $2.14 before slipping below a key support level at $1.74. Crypto analyst Ardi shared that losing this level could drag prices lower, while reclaiming it may reignite bullish momentum with targets above $2.30.

As at press time, the token is trading around the $1.8 mark, down 10% in the past day.

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Michael Adeleke

Michael Adeleke is a passionate crypto journalist known for breaking down complex blockchain concepts and market trends into clear, engaging narratives. He specializes in delivering timely news and sharp market analysis that keeps crypto enthusiasts informed and ahead of the curve. With an engineering background and a degree from the University of Ibadan, Michael brings analytical depth and precision to every piece he writes.

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Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
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