Aster crypto token ASTER stays below $0.60 despite $5.3 million buyback

Aster’s protocol used 99% of its daily platform fees to repurchase its native token, ASTER, removing roughly 5.3 million tokens between late June and late July. The buybacks represent about 0.2% of the 2.7 billion tokens currently in circulation, while only around 34% of the maximum eight‑billion‑token supply is active.

Despite the aggressive buyback and token‑burn schedule, ASTER continued trading near $0.61 on Coinbase, roughly 8% below the anchored volume‑weighted average price of $0.664 set after the June 17 tokenomics announcement. Technical indicators, including a negative Chaikin Money Flow, suggest sellers still dominate the market.

The limited impact on price reflects modest buying momentum and thin trading volume on the Coinbase ASTER/USDC pair, indicating that the buyback program has not yet generated sustained accumulation.