Aster Protocol Faces Bearish Momentum as TVL and Trading Volume Plummet
Aster [ASTER], the decentralized perpetual protocol, has seen a sharp 10% price decline amid deteriorating market conditions. Investors have withdrawn approximately $362 million in total value locked (TVL) since October 13, signaling a stark shift from bullish to bearish sentiment.
Trading activity on the protocol has crumbled, with perpetual volume dropping to just $78 million in 24 hours. Technical indicators suggest further downside risk—the MACD's death cross and Aroon Down nearing 93% point to potential slides toward $0.7 or even $0.5.
The exodus reflects waning confidence in ASTER's near-term prospects as broader crypto market headwinds persist. Protocol usage metrics now mirror price action, forming a vicious cycle of declining utility and valuation.