Aster, a decentralized perpetual futures exchange, has achieved a significant milestone by surpassing 200,000 on-chain holders of its native ASTER token. The platform reported 200,642 holders as of January 5, 2026, marking a 0.24% daily gain and totaling 24.9 million token transfers. This growth is attributed to the platform's multichain perpetual futures trading, which offers up to 1001x leverage and MEV-free execution.
The expansion of its flagship "Shield Mode" feature is a key driver. Initially launched in mid-December 2024 for Bitcoin (BTC) and Ethereum (ETH) pairs with up to 1,001x leverage, Shield Mode has now been extended to include XAUUSDT (gold) and XAGUSDT (silver) perpetual futures contracts, offering up to 100x leverage. This mode prioritizes trader privacy by executing orders off public order books, preventing market participants from tracking strategies. It also features one-tap long/short positions, instant execution with zero slippage, and a profit-and-loss (PnL) sharing fee structure. Trading for these new pairs is live 24/7 in UTC.
"Shield Mode reflects our belief that the future of on-chain trading isn’t just about leverage or speed—it’s also about control, discretion, and protection," said Leonard, CEO of Aster. "We’re building a trading platform that allows traders to perform at the highest level without being forced to broadcast their strategies to the market."
Despite the operational success, the project faces challenges. Yi Lihua, founder of Liquid Capital, publicly exited his investment, citing an inability to contact Aster's founder, which raised concerns. The platform also acknowledges the inherent risks of high-leverage trading, referencing previous whale losses exceeding $35 million on its system.
In terms of market performance, Aster leads in 24-hour trading volume with approximately $38.8 billion, slightly ahead of competitor Hyperliquid's $34.8 billion. However, Hyperliquid maintains a significantly higher open interest at $81.7 billion compared to Aster's $26 billion.
The ASTER token has responded positively to recent developments, breaking past the $0.78 resistance level and rallying 11.44% over the past week. However, technical indicators suggest bearish pressure remains, with a failure to hold $0.78 potentially leading to a retracement to the $0.70–$0.75 range. The token is currently trading around $0.77.
Looking ahead, Aster's 2026 roadmap includes the launch of the Layer One AsterChain mainnet, the implementation of staking and on-chain governance for ASTER, and the exploration of fiat on- and off-ramps. The platform also continues its fifth token buyback program, which uses up to 80% of daily fees to repurchase and burn tokens.
