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Can $1.7M in token burns help ASTER regain bullish momentum?
['Gladys Makena', 'Written By', 'Reviewed By', 'Benjamin Njiri', 'Muriuki Lazaro', 'Ishika Kumari', 'Kelvin Murithi']
AMBCrypto
Aster team burns $1.74 million worth of ASTERWith Aster-DEX [ASTER] regaining some upside pressure and defending key levels, the team offered more incentives to the market.
Often, token burns reduce token supply.
For example, Asterlify did not record any major token buybacks over the past month or any buyback over the last 24 hours.
It seems the Aster team has scaled back on token buybacks because the ecosystem is not generating significant revenue.
If demand holds and is boosted by recent token burns, ASTER will likely hold $0.6 and target a move above $0.64.