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Aster token jumps 15% as CZ pardon and $200K rewards lift sentiment
Aster (ASTER) rallied roughly 15% in the past 24 hours, trading around $1.14 at press time, as a political development and a fresh trading rewards campaign helped restore risk appetite in crypto markets. Despite the intraday gain, the token remains about 10% lower on the week and roughly 52% beneath its September 24 all-time high of $2.41. Short-term momentum has, however, shifted to the positive, drawing renewed attention from traders and DeFi investors.
Market moves: volume, derivatives and open interest rise
Aster’s 24-hour spot trading volume jumped to $833.7 million, a 13% increase that accompanied the price rise. Derivatives activity also expanded — CoinGlass data shows derivatives volume climbed to $2.16 billion (up ~10.56%) and open interest rose to $482 million (up ~3.78%). These metrics point to growing speculative positioning across perpetual futures and margin markets, signaling that traders are increasingly bullish on ASTER in the near term.
Political catalyst: Trump pardons Changpeng Zhao
On Oct. 23, President Donald Trump issued a full pardon to Changpeng “CZ” Zhao, reversing his 2023 conviction on anti-money laundering charges. The White House framed the move as an end to what it called a regulatory campaign against crypto, and the decision immediately improved market sentiment for assets tied to CZ’s new ventures. CZ, who served a four-month sentence in 2024, has since focused on building Aster, a decentralized perpetual futures exchange backed by YZi Labs, his family office.
Trading rewards campaign adds fuel to the rally
Aster launched a “Rocket Launch” rewards campaign the same day as the pardon. The incentive program will distribute $200,000 worth of ASTER and AT tokens to traders who participate in spot and perpetual markets. The campaign’s first featured partner is APRO Oracle, an early-stage provider of real-world data for AI, DeFi and RWA projects.
Participants must trade at least $1,000 in AT/USDT volume and maintain a 100 ASTER balance during the event, which runs from Oct. 24 to Nov. 6. The clear rules and sizable prize pool likely helped drive both spot turnover and derivatives interest, supporting the short-term upside.
Technical outlook: consolidation with upside potential
ASTER has recovered from a weekly low near $0.95 and consolidated around $1.14 on the hourly chart. The token has reclaimed the middle Bollinger Band, suggesting stabilizing momentum. Immediate resistance sits at the upper band near $1.16, while the lower band around $0.99 offers a nearby support level.
Aster 1-hour chart
Key indicators show mixed signals: the RSI sits around 65, pointing to rising momentum but nearing overbought territory. Short-term trend tools such as MACD and EMAs (10, 20, 30) remain in sell territory, which means the rally could stall if volume drops. A decisive close above $1.16 would validate a bullish breakout and open targets near $1.25–$1.30. Conversely, a break below $1.08 may trigger a pullback toward $0.98.
What traders and investors should watch
- Monitor derivatives open interest and funding rates for confirmation of sustained leverage-driven momentum.
- Track campaign participation metrics and on-chain flows to see if the $200K incentive yields lasting demand.
- Watch macro headlines—regulatory news and BTC/ETH price action often dictate risk appetite across the crypto sector.
Overall, Aster’s short-term price action appears driven by a combination of political news, concentrated promotional incentives, and renewed speculative interest. Traders should remain cautious: technical indicators show room for both continuation and a retracement if volume cools.
Source: crypto
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