Binance-Backed Aster Shines ✨ – Massive $11B DEX Volume Powe
koinmilyoner
Updated at: 2 hours ago
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Aster hits $2.14, a record high, amid crypto market turbulence.
Aster perp DEX trade volume exceeds $11 billion in 24 hours, indicating acceptance.
YZi Labs, previously Binance Lab, backs decentralized perpetual contract exchange Aster.
On Tuesday, Aster (ASTER) price hit a new all-time high of $2.14 before falling below $2.00. YZi Labs, previously Binance Labs, backs Aster's coin.
Over $11 billion in Aster DEX volume
Aster perp DEX volume exceeded $11 billion within days of debut, indicating widespread use. With approximately 524,000 members, the exchange's website reports $544 billion in trading activity.
The protocol's self-reported Open Interest (OI) is $255 million, while its Decentralized Finance (DeFi) trading Total Value Locked (TVL) averages $776 million.
The TVL, or total value of coins locked in smart contracts on the protocol, is $1.6 billion, according to DefiLlama. The figure below shows Aster's staking demand rising as the TVL averaged $347 million on September 1.
Aster rally: Can it last?
On Tuesday, Aster is just below $2.00. Short-term support near $1.90 supports the token's optimistic outlook.
Aster might rise beyond $2.00 with strong 2-hour chart technical indications. The Moving Average Convergence Divergence (MACD) showed a sell signal early in the day. If investors follow the indication and increase exposure, Aster may sustain the climb over $2.00.
Traders watch the record high of $2.14 and the first support of $1.90. Aster's short-term technical prognosis may depend on price behavior beyond this band.
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