Aster price drops below $1 after buyback burn plan
The post Aster price drops below $1 after buyback burn plan appeared on BitcoinEthereumNews.com. Aster price drops by 2.8%, dragging the token below its $1 threshold following recent news that the team would embark on a plan to burn 50% of all buyback tokens. Summary Aster DEX introduced its first token burn initiative, committing to burning 50% of buyback tokens from its Season 2 and 3 rounds while locking the remaining 50% for future airdrops. Despite the announcement, $ASTER price slipped below the $1 threshold to $0.98, as traders await clearer signs that the new buyback and burn model will translate into stronger long-term price momentum. The Aster DEX team has announced that it would start refining its Season 3 buyback and airdrop model by burning some tokens in the vault. This marks the team’s first attempt at a token burn plan since it started buying back tokens from the market earlier this month. In a recent post, Aster (ASTER) DEX revealed that it would start burning 50% of all tokens from its buyback rounds, including the ones from both the Season 2 and Season 3 phases. The tokens will be burned directly on the public buyback address, effectively reducing the circulating token supply which currently stands at around 2 billion. Meanwhile, the remaining 50% of the buyback tokens will be redirected to Aster’s locked airdrop address, thus removing the tokens from circulation while also bolstering reserves for potential future airdrops. By permanently removing 50% of its buyback tokens through a burn mechanism and locking the remaining 50% for future airdrops, the project is introducing a dynamic that would result in fewer tokens circulating in the market. This means that the token’s scarcity could lead to a surge in Aster price. Although, this is not always a guarantee. Shortly after the news went viral, Aster price fell to $0.98, dropping from its previously held…
The post Aster price drops below $1 after buyback burn plan appeared on BitcoinEthereumNews.com.
Aster price drops by 2.8%, dragging the token below its $1 threshold following recent news that the team would embark on a plan to burn 50% of all buyback tokens. Summary Aster DEX introduced its first token burn initiative, committing to burning 50% of buyback tokens from its Season 2 and 3 rounds while locking the remaining 50% for future airdrops. Despite the announcement, $ASTER price slipped below the $1 threshold to $0.98, as traders await clearer signs that the new buyback and burn model will translate into stronger long-term price momentum. The Aster DEX team has announced that it would start refining its Season 3 buyback and airdrop model by burning some tokens in the vault. This marks the team’s first attempt at a token burn plan since it started buying back tokens from the market earlier this month. In a recent post, Aster (ASTER) DEX revealed that it would start burning 50% of all tokens from its buyback rounds, including the ones from both the Season 2 and Season 3 phases. The tokens will be burned directly on the public buyback address, effectively reducing the circulating token supply which currently stands at around 2 billion. Meanwhile, the remaining 50% of the buyback tokens will be redirected to Aster’s locked airdrop address, thus removing the tokens from circulation while also bolstering reserves for potential future airdrops. By permanently removing 50% of its buyback tokens through a burn mechanism and locking the remaining 50% for future airdrops, the project is introducing a dynamic that would result in fewer tokens circulating in the market. This means that the token’s scarcity could lead to a surge in Aster price. Although, this is not always a guarantee. Shortly after the news went viral, Aster price fell to $0.98, dropping from its previously held…
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