- Aster DEX begins fifth buyback phase, allocating 80% of daily fees to support ASTER token.
- Automatic and strategic buybacks planned: 40% for auto-purchases, 20–40% for strategic market buys.
- Previous buybacks reduced the circulating supply, burning 7.11% of total ASTER tokens to support value.
Aster DEX has recently announced the beginning of its fifth buyback event for the ASTER token, which will take place on December 23. To stabilize the ASTER token price, the platform will allocate 80% of its fees to the ASTER buyback.
As proposed in the new plan, 40% of the pool of fees will be allocated to automatic buybacks. The remaining pool of fees will then allocate 20-40% to strategic purchases. The main rationale behind this plan is that it will help reduce the ASTER tokens in circulation. It may also help in stabilizing liquidity.
The effects of the previous phases of the buyback have already been seen. A total of 7.11% of the total supply of the ASTER token has been burnt by the Aster DEX for the purpose of supporting the value of the token. However, no change in the price is yet seen regarding the newly launched ‘fifth phase.’
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ASTER Token Faces Price Fluctuations
Despite the consistent buybacks, ASTER has registered sharp market oscillations. Within the last 30 days, the token has depreciated by about 37.36% in value.
As per CoinMarketCap, currently ASTER is trading at $0.7179, with a market value surpassing $1.82 billion. Within the last 24 hours, the token registered a moderate rise of 4.22%, although it has depreciated by 19.85% within the last week. The trading volume for today reached $168.22 million, registering a decline of 59.83% within the last 90 days.
According to analysts, Aster DEX’s buyback program may help Aster Token’s liquidity and supply in the short term, although the long-term price movements may be influenced by market trends and developments.
Although the announcement made on the 23rd of December did not feature comments from Aster DEX representatives or market analysts, the community is keen to see the strategies employed by the platform in their buyback operations. This is the fifth phase of operations in Aster DEX’s quest to promote ASTER.
Overall, the fifth phase of buyback showcases how proactive Aster DEX has been in dealing with the circulating supply of ASTER tokens in the market. The uncertainty in the short-term market performance might be cleared by the continued buying back of tokens in the market.
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