Aster’s price has received another boost following news that its CEO announced plans for a blockchain network featuring native perp integration and a buyback program.
Summary
- The Aster team is said to be developing a blockchain aimed at enhancing the success of its token, ASTER, which has recently gained significant traction.
- ASTER experienced a 32% surge following news of its blockchain being in testing and has remained close to the overbought zone.
According to the X information account Solid Intel, the CEO of Aster has confirmed that, after the impressive success of the ASTER token, the team is working on a mainnet to support it.
The account claims that the blockchain network will be called Aster Chain and is set to launch soon.
This network is rumored to feature sub-second finality time, native perpetual contract integration, and low transaction fees. Additionally, plans are in place for a token buyback program to further increase the value of its tokens, which are currently on a strong upward trend.
While no specific launch date has been confirmed, the blockchain for ASTER (ASTER) is believed to be in the testing phase.
“ASTER CEO confirms Aster Chain is coming and in testing, featuring sub-second finality, native perp integration, low fees, and a token buyback program,” claimed Solid Intel on X
Despite the official Aster account not yet confirming whether a blockchain network is in development, the news has gone viral in the crypto community. Rumors of an impending blockchain network have already propelled the Aster token price to new heights.
At press time, the token has increased by 32.86% in the last 24 hours. Over the past week, the token trend has remained upward, fueled by recent achievements, including support from former Binance CEO Changpeng Zhao’s YZi Labs.
ASTER token price analysis
Aster token price has shown a strong upward trend recently, climbing from below $1.00 to over $2.20 in a short period. This sustained rally indicates bullish momentum, backed by consistent higher highs and higher lows in the candlesticks.
Although there has been a slight slowdown in price action due to hesitance, Aster token price rebounded with rising momentum following news that Aster Chain is in its testing or pre-launch phases. The token’s approach toward the $2.20 to $2.30 range could be seen as a buildup of anticipation ahead of a possible chain launch.
Currently, the RSI indicator is at 67.75, just below the overbought threshold of 70. This indicates that while buying pressure has been strong, the token is approaching a level where momentum may slow down, suggesting potential profit-taking. The flattening RSI may also indicate a shift toward consolidation rather than an immediate continuation of the sharp uptrend.
However, this slowdown has sharply accelerated following news of Aster Chain being in its testing phase.
Moreover, price action has formed a steep rising trendline, but the recent small dip below the peak suggests short-term exhaustion.
If the ASTER token price cannot break above $2.30 with significant volume, a correction towards the $2.10–$2.15 support area may occur before another attempt to rise. A deeper retracement could find stronger support around $1.90, where prior consolidation took place.
