ASTER Token Defies Crypto Market Consolidation With 14% Upside, Expert See Next Stop at $3
Highlights
- ASTER token's second phase of rally begins following the recent bounce back $2.
- Whale activity intensifies, with one large investor purchasing 2.74 million ASTER worth $5 million.
- ASTER dominates Perpetual Protocol trading, leading September’s $1.226 trillion total volume.
Despite the broader crypto market consolidation, ASTER token is outperforming with 14% gains in the last 24 hours, shooting past $2 and eyeing fresh all-time highs. This is a strong bounce-back for the DEX altcoin after hitting the lows of $1.5 on October 1. Market analysts are hopeful that the altcoin rally can continue further, all the way to $3.
ASTER Token Shows Breakout From Bull-Flag Pattern
Crypto analyst Lark Davis says the ASTER token is currently breaking out of a bull-flag pattern, a technical setup that often precedes further upside. Davis identified $2.40 as the first key resistance to watch; if ASTER price clears that level, he sees the next Fibonacci target around $2.96.
Furthermore, the Aster blockchain’s native token continues to draw strong institutional interest. A large investor has purchased 2.74 million ASTER tokens for approximately $5 million USDT at an average price of $1.825 over the past 24 hours.
The whale still holds $1 million USDT on Aster DEX, suggesting possible further accumulation. Following the latest purchase, the investor’s total holdings have reached 3.07 million ASTER, currently valued at $5.86 million.
This strong whale demand shows that big players have continued with ASTER accumulation amid recent rumors of a possible Binance listing. Any such development could provide a major liquidity boost, thereby driving the ASTER price higher to fresh all-time highs.
Leading Perpetual Protocol Trading Volume Topping $1 Trillion in September
Perpetual Protocol recorded its highest-ever monthly trading volume in September, surpassing $1 trillion for the first time. Total activity for the month reached $1.226 trillion, with ASTER emerging as the leading contributor, posting $493.61 billion in trading volume.
The BNB Chain-focused ASTER, backed by YZi Labs, rapidly climbed to the top position in Perpetual swap trading, registering more than $420 billion in trading activity. Meanwhile, long-standing Layer 1 platform Hyperliquid slipped to second place with $282.5 billion in volume, dropping by 29% from August’s $398 billion.
In a related development, Aster announced plans to launch its own ZK-based Layer 1 network, dubbed Aster Chain, to further support its growing Perpetual trading ecosystem. This could further contribute to the ASTER token price surge moving ahead.
On the other hand, the broader crypto market has entered consolidation after a strong upside earlier this week. BTC price has now approached closer to its all-time highs at $124,000, while Ethereum (ETH), XRP, and Solana (SOL), are all flat.
- BNB Rally to $1,300 Will Continue As Binance Hits Crucial Q3 Milestone, Says Expert
- Trump’s Real Estate Moves On-Chain as Hut8 Adds WLFI Tokens to Boost Treasury
- MetaMask Gears Up for Major MASK Token Airdrop With Reward Points System Launch
- Coinbase Joins Ripple and Circle In Applying For National Banking License
- USDT Issuer Tether Eyes $200M Raise To Launch Tokenized Gold Treasury Company
- BNB Coin Price Hits ATH as Derivatives Activity Soars—Is $1,520 the Next Stop?
- Aster Price Eyes $3 After Channel Breakout as Open Interest Surges to $1.37B
- Will XRP Price Hit $5 if the SEC Approves ETFs This Month?
- Bitcoin Price Hits $120K Ahead of Q4 — Can Citigroup’s Forecast Hold Up?
- Pi Network Price at Risk of Another Crash as Mysterious Whale Stops Buying
- Solana Price Eyes $360 After Bullish Retest As VisionSys AI Deploys $2B Treasury Strategy
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal 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.
