Aster News Today: Aster's Price Collapses as Airdrop and Delisting Erode Market Trust

ASTER Price Faces Deep Decline as $12M Transfer and Airdrop Fuel Market Unrest

The price of Aster (ASTER) has plummeted nearly 30% from its recent peak of $2.30, trading near $1.60 as bearish sentiment intensifies. Analysts warn that a breakdown below key support levels could push the token toward $0.70, driven by a confluence of factors including a $12 million ASTER transfer to Binance, a delisting from DeFiLlama, and the release of 320 million tokens (4% of total supply) in a no-lockup airdrop. The token is now at a critical inflection point, with technical indicators and on-chain activity amplifying concerns about further declines.

The immediate catalyst for the sell-off emerged when DeFiLlama delisted Aster's perpetual data after identifying "unusual trading volume correlations" with Binance, raising questions about the authenticity of its liquidity metrics. Shortly afterward, a Galaxy Digital-linked wallet transferred 6.857 million ASTER tokens (worth $14.16 million) to Binance, sparking fears of a large-scale dump. "The delisting and the transfer created a perfect storm of uncertainty," said a blockchain analyst, noting that the market now views the token as high-risk amid inflated volume claims.

Compounding the pressure is the Phase 2 Genesis airdrop, which unlocked 320 million ASTER tokens for distribution without a vesting period. This influx of liquidity has triggered immediate selling pressure, with analysts projecting that the price could retest the $1.50 neckline of a potential double-top pattern. A confirmed breakdown below this level could target $0.70, according to technical models. Meanwhile, crypto trader Gordon (@AltcoinGordon) has flagged the $2 level as a critical support zone, warning that a loss of this threshold would signal "severe downside risk" and potentially accelerate the decline.

Market participants are also scrutinizing open interest and whale activity. Open interest in ASTER derivatives surged to $5 billion in two weeks, reflecting speculative fervor despite the token's volatility. On-chain data reveals that a Galaxy Digital-linked address still holds 57.67 million ASTER tokens ($118 million), suggesting the firm may retain significant influence over price action. Additionally, Bitrue's integration of ASTER into its Alpha platform has drawn attention to the token's liquidity dynamics, with high-frequency trading activity amplifying short-term volatility.

The bearish narrative is further reinforced by the broader "BNB memecoin season" selloff, triggered by Binance founder CZ's policy shifts. This has drained liquidity from high-risk tokens like ASTER, which lacks the institutional backing of more established projects. "The market is pricing in a flood of supply from the airdrop and the recent whale transfers," said a derivatives trader, noting that short-term traders are hedging against a potential $1.90 support level break.

Looking ahead, the token's trajectory will hinge on whether bulls defend the $1.50–$1.80 range or if selling pressure overwhelms buyers. A rebound above $1.70–$1.80 could attract short-covering and push the price back toward $2.30, but a sustained decline below $1.50 would likely validate the bearish case. Institutional flows and potential Binance listing rumors may offer a lifeline, but analysts caution that ASTER's fundamentals remain unproven amid the current selloff.

Source: [1] Aster Price Forecast: Another 40% Drop Possible Amid ... (https://www.fxempire.com/forecasts/article/aster-price-forecast-another-40-drop-possible-amid-fading-bnb-memecoin-frenzy-1553992)

[2] ASTER price at risk of sliding to $0.70 as sentiment ... (https://cryptonews.net/news/analytics/31772295/)

[3] ASTER Price Warning: $2 Support Is Critical for $ASTER - ... (https://blockchain.news/flashnews/aster-price-warning-2-support-is-critical-for-aster-breakdown-risk-flagged-by-gordon-altcoingordon)

[4] Galaxy Digital-Linked Whale Moves 1.913M $ASTER to Binance, ... (https://blockchain.news/flashnews/galaxy-digital-linked-whale-moves-1-913m-aster-to-binance-6-857m-total-since-yesterday)

[5] Aster Stage 2 Genesis Airdrop: 320M Tokens and Price Impact on ... (https://www.bitrue.com/blog/aster-stage2-genesis-airdrop-bitrue-price-impact)

[6] ASTER to Launch Phase 2 Airdrop on October 10 as Open (https://coingape.com/aster-to-launch-phase-2-airdrop-on-october-10-as-open-interest-tops-5b-in-two-weeks/)