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ASTER is testing local lows at $0.716 as whale selling persists. With the price stuck below key EMAs and $BTC showing muted momentum, the short-term outlook remains cautious. However, with technicals oversold and $0.71 providing strong support, buybacks are starting to show signs of accumulation. I'm staying selective and using this downtime to join the Bitget Onchain Challenge Phase 32 to stack some $BGB before Christmas

The decentralized finance landscape just got more competitive. ASTER, a leading decentralized perpetuals exchange, has unveiled a monumental futures trading competition with a staggering $12 million prize pool. Dubbed ‘Crystal Weekly Drops,’ this six-week event promises to be a major draw for serious crypto traders. Let’s break down what you need to know to potentially claim a share of this massive reward. What is the ASTER Futures Trading Competition? ASTER’s Crystal Weekly Drops is a high-stakes event designed to engage its trading community. The competition is structured in phases, with the first one kicking off on December 22nd. The core premise is simple: trade futures on the ASTER platform, meet specific criteria, and qualify for an equal slice of a multi-million dollar prize. This move highlights the growing trend of exchanges using substantial incentives to boost platform activity and liquidity. How Can You Win in This Trading Competition? Eligibility for the prize pool isn’t just about trading volume. To qualify during the first phase (Dec. 22-28), participants must satisfy a clear set of conditions. This structured approach ensures rewards go to committed users. Hold a Minimum of 444 ASTER Tokens: You must maintain this token balance in your connected wallet. Trade for Over Six Days: Active participation across nearly the entire week is required. Maintain a Position Size Over $30,000: This can be in ASTER, BNB, or HYPE tokens, providing some flexibility. If you meet all these conditions, you will split the phase’s prize—up to 2 million USDF—equally with all other qualifying traders. Therefore, the final payout depends on the total number of successful participants. Why Are Futures Trading Competitions So Popular? Events like this futures trading competition serve multiple purposes. For the exchange, they drive significant trading volume, increase token utility, and attract new users. For traders, they offer a chance to amplify profits through rewards, test strategies in a lively market, and gain recognition. However, it’s crucial to remember that futures trading is inherently risky. The lure of a prize pool should never override sound risk management principles. What Should Traders Consider Before Joining? While the $12 million pool is enticing, prudent participation is key. First, ensure you understand the risks of perpetual futures contracts, including leverage and funding rates. Second, factor in the costs of acquiring and holding the required 444 ASTER tokens. Finally, the requirement to maintain a $30,000 position size means this competition is geared toward experienced traders with substantial capital. Always trade with funds you can afford to lose. Conclusion: A High-Stakes Opportunity in DeFi ASTER’s Crystal Weekly Drops represents a major incentive in the DeFi perpetuals space. This futures trading competition sets a high bar with its $12 million prize pool and specific participation rules. For eligible and skilled traders, it presents a unique opportunity to be rewarded for their market activity. As with all trading, proceed with caution, a clear strategy, and an awareness of the risks involved. The coming weeks will reveal how the market responds to this ambitious event. Frequently Asked Questions (FAQs) Q1: When does the ASTER trading competition start?A1: The first phase begins on December 22, 2024, at 12:00 a.m. UTC and runs until December 28 at 11:59 p.m. UTC. Q2: What is the total prize pool for the event?A2: The total prize pool for the entire six-week competition is $12 million. The first phase has a pool of up to 2 million USDF. Q3: Do I need to hold ASTER tokens to participate?A3: Yes, one of the key eligibility rules is holding more than 444 ASTER tokens in your connected wallet during the competition phase. Q4: How is the prize money distributed?A4: The prize money for each phase is distributed equally among all traders who successfully meet all the eligibility conditions. Q5: Is this competition suitable for beginner traders?A5: Due to the $30,000 minimum position size and the complexities of futures trading, this competition is primarily aimed at experienced traders with significant capital. Q6: What tokens can I use for the $30,000 position size?A6: You can maintain the required position size using ASTER, BNB, or HYPE tokens. Join the Conversation Will you be testing your skills in this massive futures trading competition? What’s your strategy for qualifying? Share this article with your trading community on X (Twitter) or Telegram to discuss the opportunities and challenges of ASTER’s Crystal Weekly Drops! To learn more about the latest trends in decentralized exchanges and perpetual futures, explore our article on key developments shaping the future of DeFi trading. Disclaimer: The information provided is not trading advice, Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

The week of December 15-22 is set to be a pivotal period in the cryptocurrency market, marked by significant large-scale coin unlocking events. This period is particularly noteworthy for its anticipated impact on supply dynamics, as summarized by blockchain journalist Wu Blockchain. According to Tokenomist data, there will be cliff-type unlocks exceeding $5 million in one transaction, along with daily linear distributions of over $1 million. These events are expected to shift investor focus back to supply pressures, with the total coin supply being unlocked estimated to surpass a market value of $309 million. Leading Cliff-Type Unlocks: ZRO and ZK Coins In the cliff category, the largest unlock involves 173.08 million ZK coins, valued at approximately $5.56 million, representing 3.26% of the total supply. Meanwhile, ZRO leads in value with a $37.53 million unlock, accounting for 6.79% of its circulating supply. This significant release in the market is anticipated to stir substantial attention among stakeholders. Contents Leading Cliff-Type Unlocks: ZRO and ZK Coins Noteworthy Linear Unlocks: RAIN and SOL Arbitrum (ARB) will see 96 million tokens unlocked, equivalent to approximately $19.98 million. Projects like SEI, LISTA, and ID will add to the week’s supply pressures, with unlocks valued at $9.46 million, $5.68 million, and $5.08 million, respectively. This widespread activity raises anticipation of heightened volatility within these projects. Experts suggest that cliff-type unlocks often lead to short-term price pressures. As long-held tokens are released, an increase in sell orders could drive temporary market instability, especially impacting altcoins with lower liquidity. Noteworthy Linear Unlocks: RAIN and SOL During the same period, linear unlocks in RAIN, SOL, TRUMP, and WLD capture attention. With a massive release of 9.43 billion RAIN coins valued at $75.04 million, this constitutes 2.78% of its circulating supply. Meanwhile, Solana $124.94 (SOL) anticipates unlocking 486,990 coins, a smaller percentage given its large market capitalization. TRUMP and Worldcoin (WLD) will see releases valued at $26.8 million and $21.55 million, respectively. Additionally, Dogecoin $0.1296 (DOGE), ASTER, Avalanche (AVAX), and TAO will experience staggered unlocks ranging from $7 million to $13 million. DOGE’s impending unlock of 94.9 million coins could intensify short-term volatility, particularly within the memecoin sector. For investors, this week is crucial, marked by supply-driven pressures and potential price corrections. Tokenomist data emphasizes how supply management in decentralized projects can directly influence market psychology.

Onchain challenges usually feel like extra work. Phase 32 of Bitget’s Onchain Challenge is a bit different. Trades across $pippin $ASTER and $NKEON add up over time, with steady activity tracking more than one big move. Rewards build quietly in the background. You can switch between onchain tokens and stock-linked assets if you like, so it’s easy to stay active without changing your usual flow. Everyday trades just count toward something ongoing.

Crypto analyst The DeFi Investor shared the key developments in the altcoin market and the projects he will be following as the new week begins. According to the analyst’s assessment, the key factors that could determine market direction in the coming days mainly revolve around governance votes, changes in the token economy, and new product launches. UniSwap (UNI) is at the top of the analyst’s weekly watch. The voting process for the proposal to burn 100 million UNI tokens and implement a “fee switch” mechanism in the UniSwap ecosystem will end on December 25th. Meanwhile, all eyes are on the Hyperliquid (HYPE) community. Voting on a proposal to burn approximately $1 billion worth of HYPE tokens will conclude on December 24th. Related News Big Bull Michael Saylor Gives the Expected Bitcoin Signal This Week Too Another project on the analyst’s list is ANON, developed by Daniele Sesta and part of the Hey Anon ecosystem. The project is expected to launch a new prediction market platform this month. On the ASTER front, it has been stated that token emissions will be reduced starting December 22nd. The main topic of discussion for AERO is the Aerodrome protocol’s recent plan to expand to the Ethereum mainnet. On the SNX side, it’s noteworthy that the Infinex platform is preparing to integrate Synthetix and Lighter Perpetual products. Within the AAVE ecosystem, governance debates are on the agenda. It is reported that there are disagreements within the AAVE DAO regarding whether AAVE token holders should have control over their brand assets. UP is at the bottom of the list. Superform, described as a user-owned stablecoin neobank, is expected to launch its UP token this month. *This is not investment advice. Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data!