Asterâs Price Dip amidst Record-Breaking Metrics
Asterâs recent price dip has caught the attention of crypto enthusiasts. Despite this, the platformâs metrics continue to soar.
Asterâs price has retreated to $2 after reaching a peak of $2.27 last week. However, the platformâs performance metrics have hit record highs. This includes a weekly trading volume of over $571 billion, surpassing its rival Hyperliquid, which saw a drop to $49 billion.
key points include:
- Asterâs fees jumped to $109 million.
- Total value locked rose to $2.3 billion.
Despite the short-term correction, technical indicators suggest the rally could resume. The two-hour chart shows Asterâs price bottomed at $1.5070 on Oct. 1 and reached a high of $2.2738 on Oct.4. It has moved above the 50-period Exponential Moving average,indicating a potential for further gains.
Aster, backed by Binance founder changpeng Zhao, has transformed into the industryâs biggest player in the past three weeks. Its weekly volume increased from $270 billion to over $571 billion. Fees also saw a important rise from $93 million to $109 million. The total value locked has soared to over $2.3 billion, making it a top player in decentralized finance (defi).
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