#加密市场回调 The recent trend is quite interesting. You see, the overall market was actually falling throughout November, but this coin managed to rise more than 10%, creating an independent market trend. From a technical perspective, we can see a clear rise in the support level and resistance level, indicating that there is real money catching a falling knife.

The most hardcore logic behind this is actually its token economy gaining momentum. The project party bought back nearly 40 million coins in November alone, and that's not the end of it—since the launch of the S3 phase, the cumulative buyback amount has reached around 155 million coins. What's even more ruthless is that half of these repurchased coins will be directly thrown into the incinerator, approximately 77.8 million coins just disappearing like that. As the supply contracts, the support for the price is tangible and visible.

Moreover, this project is not burning money from financing; it has its own self-sustaining ability. It is said that the platform can generate between 2.5 million to 3 million USD in transaction fee revenue every day, and this money will continue to be reinvested in the next round of buybacks, creating a positive cycle.

However, in the short term, two time points need to be noted. The first is before December 10, when the official market repurchase actions will be paused, resulting in a lack of an important buying force during this period, which may cause the price to fluctuate. The second is December 15, when a batch of S3 phase airdrop tokens will be unlocked, leading to an increase in selling pressure in the market. These two factors combined may lead to larger volatility in the upcoming period.

Looking further ahead, Aster has big ambitions. It doesn’t want to just be a decentralized exchange; it is currently building a Layer 1 public chain specifically optimized for trading, and has particularly strengthened its privacy features. According to the roadmap, the testnet is expected to go live in early 2026. If it can really be achieved, the imagination space of the entire ecosystem will be much larger.

In simple terms, $ASTER is currently in a rather delicate position. In the short term, the pause in buybacks and the unlocking of airdrops will bring uncertainty, and there may be a pullback. However, looking at the longer term, its fundamentals—sustained cash flow, a solid deflationary mechanism, and the ongoing public chain construction—these underlying supports are still there. For those who can withstand short-term fluctuations, this project still has some aspects worth paying attention to.