$ASR is simply overpriced right now. Spot price is around $2.35, but the perp is pumping to $3.5+ pure degenerate speculation.
Utility is trash, and fair value is closer to $2.
But the circulating supply is because it's flying If you are thinking of shorting you are not wrong but be careful the price can be manipulated very easily.
If you are shorting, i suggest not to use more than 3% of your portfolio.
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