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<h3>Fireline Report</h3>
<p>Aster is a new DEX for perpetual contracts. Its full-period fee income exceeded US$277 million. The team repurchased KOL and media round tokens at a 95% discount, significantly reducing selling pressure.</p>
<h3>Trading Guide</h3>
<p>There are obvious differences in the ASTER market. The project party's action of collecting chips is strengthening the bottom support. A conservative style can tentatively build a position in the chip concentration range. Short-term aggressive traders can try shorting with a light position when the market is high, and enter and exit quickly when a sharp drop is expected. The stop loss is set at the rebound high point, and the profit and loss should be stopped when the chips move abnormally or the market changes<span class="source"><a href="fx://followin.io/Feed?id=20891149"><img src="https://static.fwimg.io/img/user/1aa5d79b75fc10b34cc5e07528696278.jpg" width="20" height="20" /></a><a href="fx://followin.io/Feed?id=20889137"><img src="https://static.fwimg.io/img/user/9890cc7c44b4343cf112b2f354aacea5.jpg" width="20" height="20" /></a></span>.</p>
<p style="margin-top: 20px; text-align: left; opacity: 0.4; padding: 0 42px"><small>Updated at 10-19 09:50</small><br><small>AI-generated summary, not investment advice</small></p></div>

<h1>Aster&#39;s full-term fee income exceeds US$277 million, analyst report</h1><h2> TL;DR</h2><p> Aster DEX has reached $279 million in transaction fees throughout its entire trading period, validating the $277 million milestone. The team repurchased tokens from the KOL and media rounds at a 95% discount to mitigate selling pressure. The ASTER token is currently priced at $1.19, with a market capitalization of $2.4 billion. Following its listings on Binance (October 6) and Robinhood (October 16), the token experienced a pullback due to &quot;good news exhausted,&quot; but technical indicators suggest a rebound from oversold conditions.</p><h2> Core Analysis</h2><h3> Fee Income Milestone Verification</h3><p> Aster DEX, a perpetual futures exchange supporting up to 1001x leverage, has achieved astonishing growth since its launch on September 19, 2025. <reference tool_id="call_39636881" category="bar_fees" project="Aster" description="Aster protocol fees and revenue from 2025-09-19 to 2025-10-19" item_id="7a3ca003-934c-40ef-91ff-8cfaf244fc30"/></p><p> <strong>Fee data verification</strong> :</p><ul><li> <strong>Cumulative fees</strong> : $279 million (as of October 19th), confirming the authenticity of the $277 million milestone</li><li> <strong>Average daily income trend</strong> :<ul><li> 30-day average: approximately $8 million per day ($240.3 million total)</li><li> 7-day average: approximately $2.95 million per day (US$20.65 million total)</li><li> 24 hours: $2.73 million (down 9.34% from the previous day)</li></ul></li></ul><p> <strong>Revenue growth trajectory</strong> : Transaction fees exploded after the launch, reaching a peak of US$25.06 million on September 28, and then stabilized in October, with an average daily revenue of US$2.5 million, and annualized revenue reached US$2.932 billion. <reference tool_id="call_39636881" category="bar_fees" project="Aster" description="Aster protocol fees and revenue from 2025-09-19 to 2025-10-19" item_id="7a3ca003-934c-40ef-91ff-8cfaf244fc30"/></p><h3> Trading volume performance</h3><p> Aster has demonstrated strong performance in both DEX and perpetual futures: <reference tool_id="call_49493111" category="bar_volume" project=Aster description="Aster protocol DEX volume from 2025-09-19 to 2025-10-19" item_id="cebbe738-46a8-40ff-ac37-303d6b410c9d"/></p><table><thead><tr><th> Time period</th><th> DEX spot trading volume</th><th> Perpetual futures trading volume</th></tr></thead><tbody><tr><td> 24 hours</td><td> US$186 million</td><td> US$17.953 billion</td></tr><tr><td> 7 days</td><td> US$1.441 billion</td><td> US$62.112 billion</td></tr><tr><td> 30 days</td><td> US$9.253 billion</td><td> US$124.835 billion</td></tr><tr><td> Full period</td><td> US$9.679 billion</td><td> US$267.535 billion</td></tr></tbody></table><p> <strong>TVL performance</strong> : The current total locked value is US$1.864 billion, mainly distributed in BNB Chain (88%, US$1.641 billion), Arbitrum (5.6%, US$104.7 million) and Ethereum (4.3%, US$80.02 million).</p><h2> Analysis of token buybacks in KOL and media rounds</h2><h3> Buyback mechanism details</h3><p> On October 18th, the team announced a buyback of tokens from the KOL and media rounds at a 95% discount (approximately $0.06 per ASTER, equivalent to 5% of the market price). This move, as reported <a href="https://cn.cointelegraph.com/flash-news/15024256">by Cointelegraph</a> , follows the completion of the 100 million ASTER buyback on October 11th and aims to proactively mitigate selling pressure from future unlocking.</p><h3> Token Economics Impact</h3><p> <strong>Unlock Schedule Analysis</strong> : <reference tool_id="call_14516097" category="token_unlock" project="ASTER" description="ASTER token unlock schedule from 2025-09-30 to 2026-01-01"/></p><table><thead><tr><th> Unlock Date</th><th> Unlock quantity</th><th> Cumulative unlock</th><th> Main categories</th></tr></thead><tbody><tr><td> 2025-09-30</td><td> 3.48 billion ASTER</td><td> 3.48 billion ASTER</td><td> Airdrop/Ecosystem</td></tr><tr><td> 2025-10-31</td><td> 45.5 million ASTER</td><td> 3.53 billion ASTER</td><td> Monthly linear release</td></tr><tr><td> 2025-11-30</td><td> 44.1 million ASTER</td><td> 3.57 billion ASTER</td><td> Monthly linear release</td></tr><tr><td> 2025-12-31</td><td> 45.5 million ASTER</td><td> 3.62 billion ASTER</td><td> Monthly linear release</td></tr></tbody></table><p> <strong>Token distribution structure</strong> : <reference tool_id="call_14516097" category="token_distribution" project="ASTER" description="ASTER token allocation distribution across four stakeholder categories"/></p><ul><li> Airdrop: 40.6% (3.26 billion ASTER, claimed on October 5)</li><li> Ecosystem and community: 19.6% (1.57 billion ASTER, used for incentives and TVL growth)</li><li> Investors/KOLs/Media: 25.9% (approximately 2.07 billion ASTER, part of which has been repurchased by the team)</li><li> Team: 5.0% (400 million ASTER, 3-year lock-up + linear release)</li></ul><h3> Market impact assessment</h3><p> The positive impacts of a buyback strategy include:</p><ol><li> <strong>Supply tightening</strong> : Reducing the amount of circulating supply in the market, especially from selling pressure from early allocations</li><li> <strong>Confidence boost</strong> : Demonstrate the team&#39;s commitment to the long-term development of the project</li><li> <strong>Price support</strong> : Use the agreement income to repurchase, forming a positive cycle of &quot;income → repurchase → destruction → scarcity&quot;</li></ol><h2> Market Performance and Technical Analysis</h2><h3> Current price trend</h3><p> <strong>Basic data</strong> (as of October 19):</p><ul><li> Price: $1.19 (up 8.9% in 24 hours, down 12.1% in 7 days)</li><li> Market capitalization: $2.40 billion (ranked 58th)</li><li> Fully diluted valuation: $9.50 billion</li><li> Circulating supply: 2.02 billion ASTER (25% of total supply)</li><li> 24-hour trading volume: $1.18 billion</li></ul><h3> Technical Analysis</h3><p> <strong>Key technical indicators</strong> :</p><ul><li> <strong>Trend Status</strong> : A descending wedge pattern is forming on the 4-hour chart, hinting at a potential bullish reversal.</li><li> <strong>RSI Levels</strong> : 1-hour 44.99 (neutral range), 4-hour 41.46 (slightly oversold)</li><li> <strong>Support and resistance</strong> :</li></ul><table><thead><tr><th> type</th><th> Price level</th><th> strength</th><th> Base</th></tr></thead><tbody><tr><td> support</td><td> $1.10</td><td> powerful</td><td> Liquidation cluster, recent rebound area</td></tr><tr><td> support</td><td> $1.05</td><td> powerful</td><td> Low point after going online, psychological support</td></tr><tr><td> resistance</td><td> $1.21</td><td> medium</td><td> 1-hour Bollinger Band upper track</td></tr><tr><td> resistance</td><td> $1.35</td><td> powerful</td><td> Previous high point of the upper line, wedge breakout target</td></tr></tbody></table><h3> Derivatives market data</h3><p> <strong>Futures position analysis</strong> : <reference tool_id="call_01383129" category="heatmap" project="ASTER" description="ASTER OI USD and 24h change percent by exchange at 2025-10-19 02:24 UTC"/></p><ul><li> Total holdings: $479 million (down 2.44% in 24 hours)</li><li> Funding rate: Binance 0.005% (4-hour interval), indicating a slight advantage for longs but overleveraged positions.</li></ul><p> <strong>Liquidation Risk Map</strong> : <reference tool_id="call_81838683" category="mix_bar_line_liquidation" project="ASTER" description="ASTER liquidation risk map by price level and exchange (1d period) at 2025-10-19 02:24 UTC"/></p><ul><li> Long liquidation below: $10.2 million at $1.104, $29 million at $1.16</li><li> Short liquidation above: $14.5 million at $1.182, $131.8 million at $1.24</li></ul><h2> Social sentiment analysis</h2><h3> Market Reaction Overview</h3><p> Social media sentiment surrounding the $277 million transaction fee milestone and the token buyback was generally positive, with key narratives including:</p><p> <strong>Fee milestone response</strong> :</p><ul><li> <strong>Revenue dominance</strong> : Community members frequently mention that Aster&#39;s fees surpass those of its competitors, which is seen <a href="https://x.com/0xngmi/status/1974801402456051868">as</a> evidence of superior execution.</li><li> <strong>Undervalued Narrative</strong> : Investors generally believe that ASTER&#39;s market position lags behind its fundamentals and expect a revaluation.</li><li> <strong>Binance Ecosystem Synergy</strong> : CZ’s endorsement and Binance Ecosystem connections are seen as important catalysts</li></ul><p> <strong>Reactions to the repurchase news</strong> :</p><ul><li> <strong>Selling pressure eased</strong> : Investors praised buybacks for locking up supply and slowing down selling by <a href="https://x.com/binance/status/1975110396832018762">early</a> backers.</li><li> <strong>Team Commitment</strong> : This is seen as a positive signal from the team regarding the long-term development of the project.</li><li> <strong>Price stability</strong> : Combined with historical buybacks (such as October 10), this creates an income-driven support cycle</li></ul><h3> Key opinion leaders&#39; views</h3><p> The views of major KOLs and analysts on Aster are mainly bullish: <a href="https://x.com/TrustWallet/status/1975866252536266885">x.com</a></p><ul><li> Highlighting Aster&#39;s revenue multiple advantage over competitors</li><li> Highlight technical features such as MEV resistance and hidden orders</li><li> Believe that listing in more than 100 markets is a verification signal</li></ul><h2> Impact of Exchange Listing</h2><h3> List of major exchanges</h3><p> <strong>Latest launches</strong> :</p><ul><li> <strong>Binance</strong> : Spot trading (ASTER/USDT, USDC, <a href="https://x.com/binance/status/1975110396832018762">TRY</a> ) launched on October 6th, bringing a 5% price increase.</li><li> <strong>Robinhood</strong> : Launched on October 16th, along with XPL and VIRTUAL, initially pushed up to $1.35 before triggering a 22% pullback as &quot;good news ran out.&quot; <a href="https://x.com/RobinhoodApp/status/1978822992378442145">x.com</a></li></ul><p> <strong>Other major exchanges</strong> : OKX, Bybit, Bitget, Hyperliquid, Bithumb, etc. support 116 trading pairs in 71 markets with a total depth of more than US$665,000.</p><h2> in conclusion</h2><p> Aster DEX achieved $279 million in fee revenue just one month after launch, validating its position as a leader in decentralized perpetual futures trading. The team&#39;s proactive repurchase of KOL and media tokens demonstrates its commitment to mitigating selling pressure and supporting token prices. Despite a recent post-launch &quot;good news&quot; pullback, technical indicators suggest an oversold rebound. Combined with strong fundamentals (TVL $1.864 billion, average daily fees $2.5 million) and positive community sentiment, ASTER has the potential to rebound towards the $1.35-2.00 range.</p><p> <strong>Risk factors</strong> : Large-scale token unlocking (3.62 billion ASTER will be released in 2025-2026) and whale concentration (76% concentration) still need to be closely monitored, but the repurchase mechanism and protocol revenue growth provide effective buffers.</p>


Aster's full-term fee revenue exceeded US$277 million, and its repurchase of KOL and media round tokens attracted market attention.

<strong>Aster&#39;s</strong> full-term fee revenue exceeded US$277 million, and its repurchase of KOL and media round tokens attracted market attention.