Aster (ASTER), a decentralized perpetual futures exchange, has generated over $7 million in protocol fees in a single week, driven by a sharp surge in on-chain activity as 2026 begins. This revenue milestone was highlighted by analyst Mehul Crypto on X, who noted the figures come "before the mania truly begins." At this pace, the protocol is on track for more than $600 million in annualized revenue if activity continues to scale.
The fee generation is closely tied to a dramatic increase in trading volume. On January 10, Aster's perpetual futures volume reached $6.6 billion in a single day, overtaking competitor Hyperliquid and capturing approximately 35% of the perpetual DEX market. This momentum continued, with Aster leading 24-hour perpetual volume rankings at $1.779 billion, ahead of rivals Paradex ($1.589B) and Lighter ($1.569B).
A key mechanism supporting the ASTER token is its aggressive buyback program. Roughly 80% of the protocol's daily revenue is allocated to repurchasing ASTER tokens from the market. As of early January, over 4.2 million tokens have been bought back, reducing the circulating supply at an estimated rate of 0.05% per day at current volumes. This program, which runs through February 2026, creates consistent demand tied directly to platform usage.
Concurrently, Aster has outlined an ambitious 2026 strategy to evolve beyond a derivatives DEX. Plans include launching its own Layer-1 blockchain, integrating staking and governance mechanisms, and adding a "Shield Mode" feature for high-leverage trading directly on the chain.
With the ASTER token trading around $0.7193 at the time of the report, analysts note the price remains below levels that would reflect hundreds of millions in annual revenue. Key resistance levels identified are $0.80, $0.90, and the critical psychological barrier of $1.00. The sustainability of the price rebound is seen as dependent on Aster's ability to maintain its high-volume, high-revenue trajectory in the fiercely competitive on-chain perpetuals market.
