ASTER rallies 20% as DEX utility upgrade adds collateral and fee discount incentives  

Digital tokens painted their price charts red on Wednesday as Bitcoin plunged below $100,000.

While altcoins sought footing, ASTER, the native coin of perpetual decentralized exchange Aster, gained more than 20% on the 24-hour timeframe.

The altcoin’s bullish momentum coincided with a key upgrade to the DEX’s ecosystem.

The Aster team has announced two new use cases for ASTER. Notably, people can now use the native token as collateral on the platform’s leveraged trading product with an 80% margin ratio.

Moreover, they can enjoy A 5% discount if they pay trading fees using ASTER. The announcement highlighted:

ASTER is now live as collateral on Aster Perpetual with 80% margin ratio. You can also use ASTER to pay trading fees and enjoy a 5% fee discount.

Aster expands token utility

1.8K Reply Copy link As most utility tokens struggle to sustain value without solid use cases, Aster has stayed dedicated to shifting that narrative.

The DEX has now enabled ASTER to operate as collateral and a fee payment token.

The collateral functionality comes with a lucrative 80% margin ratio, allowing people to use their idle ASTER tokens.

Traders can deploy their holdings in margin positions to heighten their exposure while maintaining ownership of their assets.

The substantial margin ratio reflects the team’s trust in ASTER’s market stability and liquidity.

Furthermore, the fee discount mechanism introduces use cases that benefit regular traders.

The system adopts a strategic approach where increased platform usage backs ASTER’s demand.

Such practical integration can help Aster retain and attract new users and enhance on-chain activity.

It creates a self-sustaining model, one that boosts platform activity, deepens liquidity, and encourages participation.

An X user and crypto enthusiast commented on the utility upgrade:

Now it’s not just holding, it’s powering every trade, fee, and margin move on Aster. This is how real ecosystem growth looks.

ASTER price outlook

Aster’s native token has seen quite a ride this week. It reclaimed $1 psychological level early in the week after Changpeng Zhao disclosed his ASTER purchase.

However, it lost momentum as CZ faced market manipulation attacks and massive shorts from whales.

Nonetheless, the digital token has regained its bullish momentum.

ASTER is trading at $1.10 after gaining roughly 22% the past 24 hours.

Its daily trading volume has increased by 16%, indicating trader optimism.

Technical indicators support rally continuation for the altcoin.

The 4H Moving Average Convergence Divergence displays buyer presence with a bullish crossover and green histograms.

Moreover, the Relative Strength Index at 56 confirms upside momentum.

ASTER remains poised for extended gains in the near-term. However, broader weakness hints at short-lived gains.

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