Aster popped over 10% on radical 'buyback and burn' upgrade. But gains were short-lived

Markets Aster popped over 10% on radical 'buyback and burn' upgrade. But gains were short-lived ASTER sees two-way volatility as bullish protocol-specific news meets hawkish Fed. By Omkar Godbole | Edited by Jamie Crawley Jun 18, 2026, 11:02 a.m. 2 min read Make preferred on Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Make preferred on ASTER's price. (CoinDesk) Summary Show Aster’s ASTER token surged more than 10% Wednesday after the token announced a massive buyback and burn program. The rally faded as a hawkish Federal Reserve decision pressured risk assets, leaving ASTER trading around 68 cents, down about 5% on the day at press time. Decentralized perpetuals-dedicated exchange Aster's native token ASTER popped and dropped sharply in 24 hours as protocol-focused bullish news ran into a hawkish Fed meeting and broader market weakness. ASTER jumped over 10% to 80 cents on Wednesday hitting the highest level since January, according to CoinDesk Data , following the protocol's announcement of a new initiative under which it commits 99% of daily platform fees to an automated buyback program . Think of it as using your firm's revenue to buy back shares in your own company. The announcement added that all tokens purchased through this mechanism are distributed as rewards to veASTER holders. veASTER is a non-transferable governance and reward token obtained by locking native ASTER tokens, granting holders platform fee revenue, voting power, and trading discounts on the Aster DEX. Every buyback triggers an equal burn from the protocol’s reserve to further reduce supply. These bi-weekly burns will continue until the total supply reaches a target of 3 billion tokens. As of now, ASTER's total supply is 7.82 billion tokens. The upgrade marks a shift away from the protocol's previous linear vesting model, in which tokens were auto-released to market regardless of demand, and it concluded earlier this year, in January 2026. "Aster's tokenomics upgrade puts the platform's own activity to work," the protocol noted, highlighting that the new rewards are settled on-chain with "no discretionary reserve." The token's bullish price action, however, was short-lived as the Federal Reserve's hawkish turn sent the dollar higher and weighed on risk assets, including cryptocurrencies. As of writing, ASTER traded near 68 cents, down 5% on the day. Bitcoin News Latest Crypto News 1 Crypto market positioning is 'defensive and thin' after Fed, Marex  analysts say 7 minutes ago 2 Malta's financial regulator explores bringing parts of DeFi under MiCA's orbit 20 minutes ago 3 The bond market is flashing a clear signal on interest rates. Bitcoin bulls should take note 3 hours ago 4 Live markets: DXY Index breaks higher as bitcoin tries to weather stronger dollar 5 hours ago 5 Strategy's STRC preferred stock hits a record low below par 5 hours ago 6 XRP slips 4% below $1.20 after breakout rally stalls near key resistance 5 hours ago 7 Buying bitcoin below its 200-week average has historically delivered over 100% in median returns, Kraken says 5 hours ago 8 Bitcoin, ether slide after a hawkish Fed, even as Trump's signed Iran deal lifts stocks 6 hours ago 9 Next bull run will be slower, less volatile as investors' crypto appetite evolves, Bitwise CIO says 7 hours ago 10 CME chief executive says company plans to sue CFTC after perpetual futures approval 7 hours ago Latest Research CEX Volumes Drop to Lowest Since September 2024 as RWA Perps Hit Record High CEX Volumes Drop to Lowest Since September 2024 as RWA Perps Hit Record High In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high. By CoinDesk Research Jun 15, 2026 In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high. Why it matters : In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high. View Full Report More From Markets Crypto market positioning is 'defensive and thin' after Fed, Marex  analysts say The bond market is flashing a clear signal on interest rates. Bitcoin bulls should take note Strategy's STRC preferred stock hits a record low below par