Aster is proving itself as a true game-changer in the DeFi space. 🌐

Binance-Backed Aster Shines ✨ – Massive $11B DEX Volume Powers Gains

Aster hits $2.14, a record high, amid crypto market turbulence.

Aster perp DEX trade volume exceeds $11 billion in 24 hours, indicating acceptance.

YZi Labs, previously Binance Lab, backs decentralized perpetual contract exchange Aster.

On Tuesday, Aster (ASTER) price hit a new all-time high of $2.14 before falling below $2.00. YZi Labs, previously Binance Labs, backs Aster's coin.

Over $11 billion in Aster DEX volume
Aster perp DEX volume exceeded $11 billion within days of debut, indicating widespread use. With approximately 524,000 members, the exchange's website reports $544 billion in trading activity.

The protocol's self-reported Open Interest (OI) is $255 million, while its Decentralized Finance (DeFi) trading Total Value Locked (TVL) averages $776 million.

The TVL, or total value of coins locked in smart contracts on the protocol, is $1.6 billion, according to DefiLlama. The figure below shows Aster's staking demand rising as the TVL averaged $347 million on September 1.

Aster rally: Can it last?

On Tuesday, Aster is just below $2.00. Short-term support near $1.90 supports the token's optimistic outlook.

Aster might rise beyond $2.00 with strong 2-hour chart technical indications. The Moving Average Convergence Divergence (MACD) showed a sell signal early in the day. If investors follow the indication and increase exposure, Aster may sustain the climb over $2.00.

Traders watch the record high of $2.14 and the first support of $1.90. Aster's short-term technical prognosis may depend on price behavior beyond this band.

#Aster #AltcoinStrategicReserves #BNBBreaksATH #FedRateCut25bps $ASTER $BNB