Gate News Bot Message, January 20th, according to CoinMarketCap data, as of press time, ASTER (Aster) is currently trading at $0.62, down 3.78% in the past 24 hours, with a high of $0.79 and a low of $0.58. The 24-hour trading volume reached $211 million. The current market capitalization is approximately $1.6 billion, a decrease of $62.9 million from yesterday.
Important recent news about ASTER:
1️⃣ Buyback mechanism officially launched but short-term unable to effectively stop the decline
Aster officially launched its strategic buyback reserve mechanism on January 19, allocating 20% to 40% of the platform’s daily transaction fees for targeted repurchase of ASTER tokens. The first round of automatic buyback was executed from the official reserve wallet, with the entire process completed on-chain and publicly verifiable. This initiative aims to reduce circulating supply and strengthen the long-term value support of the token, implementing the fifth phase of the previously announced buyback plan. However, market performance shows that ASTER remains at a historical low after the buyback announcement, with a single-day drop of over 12% on January 19, briefly falling to $0.61 and setting a new all-time low, indicating that market confidence recovery still requires time to verify.
2️⃣ High short positions among top traders creating significant selling pressure
On-chain data shows that the address labeled “Shanzhai Air Force Leader” 0xa312… holds the largest short position in ASTER on Hyperliquid, with a total size of $3.3791 million. The floating profit of this position has reached $2.9531 million. This address partially took profit on January 19, reducing its short position by 161,600 ASTER. The existence of large short positions indicates strong selling pressure in the market. When prices bounce off support levels, it can trigger short covering and selling, exacerbating short-term volatility.
3️⃣ Large holders facing unrealized losses and imbalance between long and short positions
The largest ASTER long position on Hyperliquid, with 5x leverage, is currently unrealized loss of about $1.46 million (76%), with a liquidation price of only $0.621, close to the current price of $0.62, at extreme risk. Under such circumstances, holders face the threat of liquidation, possibly forcing them to close positions and generate chain reactions of selling pressure. Meanwhile, the tightening liquidity environment in the small crypto market amplifies ASTER’s price volatility. Without strong buying support, the risk status of top longs could trigger market panic.
This message is not investment advice. Please be aware of market volatility risks when investing.
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