Following the news that Aster will increase its buyback and burn ratio to 198%, the ASTER token surged over 9% in a short period.

BlockBeats News, June 17th, according to HTX market data, following the news that Aster will increase the buyback and burn ratio to 198%, ASTER experienced a short-term surge of over 9%, now trading at $0.73.

Earlier reports stated that Aster announced an update to the ASTER tokenomics, increasing the buyback and burn ratio to 198%. Starting today at 12:00 UTC, 99% of Aster's daily platform fee will be used to buy back ASTER, simultaneously burning an equivalent amount of ASTER from the reserve, meaning a 1:1 match for the buyback quantity.