As the cryptocurrency market turns bullish, trending perpetually decentralized exchange Aster has unveiled an important update to its VIP program.
Starting November 3, the platform will make native ASTER ownership the primary factor in determining VIP status requirements.
According to today’s official announcement regarding X, the VIP tier of the Aster decentralized exchange will be subject to two metrics: 14-day trading volume and ASTER balance.
This means that individuals who want to earn a higher VIP tier will need to ensure consistent trading activity and hold onto the DEX’s native tokens.
In particular, this update reflects Aster’s dedication to encouraging loyal token holders while fostering engagement within the exchange.
So why is ASTER plummeting while the overall market is rebounding?
The digital token fell from an intraday high of $1.2113 to $1.0685, a decline of 11.79%.
While Aster’s updated VIP program will help strengthen the altcoin’s demand and utility, this approach could create short-term pressure, especially if the announcement is sudden.
Some holders may reduce their exposure in anticipation of falling prices or fear of not meeting new standards.
Additionally, if Aster cancels such benefits, users who were enjoying top benefits on somewhat dormant accounts may also be terminated.
Additionally, the cryptocurrency community often views restrictions as going against the freedoms they want from decentralized systems.
ASTER is also struggling today as the PERP DEX sector faces increased competition from new players and the thriving Hyperliquid.
HYPE continued to rise over the weekend, rising from last week’s low of $34 to today’s $49.
Why are the new VIP rules important?
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Aster takes a token-based loyalty program approach that is increasingly being used by major exchanges.
By tying VIP status to ASTER balances, we follow Binance and Coinbase in rewarding users for completing educational tasks with Binance Learn & Earn and Coinbase Wallet Quest, respectively.
This strategic approach aims to strengthen the demand and utility of the native coin while encouraging holding rather than random sales.
Nevertheless, uncertainties may emerge, which could contribute to ASTER’s general bearish performance.
Meanwhile, the team revealed that VIP analytics will be conducted daily to continuously assess users’ holdings and activities.
VIP levels and rates are evaluated daily at the end of the UTC day.
The new adjustments aim to encourage consistent user activity and prevent dormant accounts from enjoying top benefits.
ASTER price outlook
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The native token is trading at $1.07 after falling significantly on the 24-hour chart.
Charts by Coinmarketcap
ASTER’s daily trading volume increased by approximately 60% to $621 million.
A spike in trading volume during a period of weak price performance indicates that users are exiting amid uncertainty.
Nevertheless, if the broad recovery continues, it could help ASTER absorb the current selling pressure and initiate a potential rebound.
