As the crypto market turns bullish, the trending perpetual decentralized exchange Aster has revealed a significant update to its VIP Program.
Starting on November 3, the platform will make native ASTER ownership the primary factor in determining VIP status requirements.
According to today’s official announcement on X, VIP tiers on the Aster decentralized exchange will follow two metrics: 14-day trading volume and ASTER balance.
That means individuals who want to claim higher VIP tiers should ensure consistent trading activity and hold the DEX’s native token.
Notably, this update reflects Aster’s dedication to incentivizing loyal token holders while promoting engagement within the exchange.
Then, why is ASTER plunging amid broad market rebounds?
The digital token has dropped from a daily intraday high of $1.2113 to $1.0685 – an 11.79% slide.
While Aster’s updated VIP program helps strengthen the altcoin’s demand and utility, the approach can create short-term pressures, especially with sudden announcements.
Some holders may reduce their exposure in anticipation of price declines or due to fear of failing to meet the new standards.
Moreover, users who have been enjoying high-tier privileges on their somewhat dormant accounts could have exited as Aster cancels such benefits.
Moreover, the crypto community often views restrictions as against the freedom they want from decentralized systems.
Also, ASTER is struggling today as the perp DEX sector becomes competitive with new players and the thriving Hyperliquid.
HYPE remained elevated through the weekend and has rallied from last week’s low of $34 to $49 today.
Why do new VIP rules matter?
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Aster is using an approach increasingly utilized by leading exchanges, token-based loyalty programs.
By tying VIP status with ASTER balances, it is following the likes of Binance and Coinbase, which reward users for completing educational tasks on Binance Learn & Earn and Coinbase Wallet Quest, respectively.
The strategic approach aims to strengthen the native coin’s demand and utility, while encouraging holding rather than random selloffs.
Nevertheless, uncertainty can emerge, possibly contributing to ASTER’s prevailing bearish performance.
Meanwhile, the team revealed that the VIP analysis will happen daily to ensure continuous evaluation of users’ holdings and activity.
VIP tiers and fees will be assessed daily at the end of each UTC day.
The new adjustments aim to incentivize consistent user activity and prevent dormant accounts from enjoying high-tier benefits.
ASTER price outlook
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The native token trades at $1.07 after a significant decline on the 24-hour chart.
Chart by Coinmarketcap
ASTER’s daily trading volume has increased by roughly 60% to $621 million.
Soaring volumes during bearish price performance signal users exiting amidst uncertainty.
Nevertheless, continued broader recoveries will likely help ASTER absorb the current selling pressure and kick-start potential bounce-backs.
