Decentralized perpetual exchange (DEX) utility token, ASTER, price has once again started a new uptrend after the platform announced a giveaway for listing a new token, ULTILAND ($ARTX).
ASTER prices, which were tumbling throughout the past few weeks, established a new uptrend after the DEX announced a giveaway to celebrate the launch of the ARTX token.
The giveaway campaign, which started on January 27, will go on until February 3, rewarding users $50,000 in $ASTER and an extra $ARTX rewards pool.
ARTX combines RWA with on-chain
Ultiland is a web3-native protocol that bridges real-world assets and on-chain culture. Budding from the fusion of art and crypto, the protocol enables IPs, artworks, and creative capital to circulate as tokenized assets. Integrating Web3 and AI, Ultiland powers a new paradigm where DeArt meets DeFi.
Rewards are distributed based on each eligible participant’s share of the total trading fees generated by all eligible participants. And on top of that, reward amounts equal to or greater than both 1 $ASTER and 1 $ARTX, with total trading fees exceeding $5 generated from the eligible trading pair. Rewards are capped at 3% of the total prize pool per participant.
With the announcement of this reward campaign, Aster prices are testing a critical resistance level at $0.69. To give context, this level, which is acting as a resistance zone now, was a strong support level that was holding the price from falling further. However, as the broader crypto market turned bearish with the uncertain geopolitical condition, Aster lost this support level.
Aster price could hit $0.75
But now the price crash, which was there for a few weeks, seems to have come to an end after Aster reached its floor price of $0.57. Now that ASTER has established a new trend, there is every chance it could go past the resistance level of $0.69, which once was a support level.
Given that ASTER crosses this major hurdle, the next resistance level it tests would be at $0.755, which also happens to be where the 50-day moving average is. On the technical side, the Relative Strength Index indicator does not show any extreme condition, and the line is also heading upwards. As such, Aster is technically clear to hit this price.
