Fake BlackRock ASTER ETF Hoax Debunked as Burns and Buybacks Drive Real Momentum
A forged document claiming BlackRock filed a “Staked ASTER Trust” ETF went viral but was quickly debunked by Binance CEO Changpeng Zhao, who called the image photoshopped. Despite the misinformation, ASTER showed strong on-chain fundamentals: daily trading volume reached about $6 billion, holders exceeded 200,000, 77.86 million ASTER tokens were burned in the last week, and daily buybacks approached $4 million. Technicals show short-term consolidation between $0.821 and $1.29 with resistance near $1.269; a sustained break above $1.29 could prompt a stronger move, while losing $0.821 risks deeper declines. The episode underlines the speed at which crypto misinformation spreads and the importance of verifying filings through official channels. For traders, key takeaways are to monitor ASTER’s buyback cadence and on-chain burns, watch the $0.96–$1.29 resistance zone and $0.821 support for trade triggers, and treat social-media ETF claims cautiously while prioritizing verified on-chain data.
Bullish
The net effect is mildly bullish. Although the fake BlackRock ETF claim created short-term noise and volatility, the core on-chain metrics—high daily volume (~$6B), rising holder count (>200k), substantial recent burns (77.86M), and sustained daily buybacks (~$4M)—point to genuine demand and supply compression. Transparent, recurring buybacks and burns historically support token price floors and can encourage accumulation by traders and longer-term holders. Technicals show consolidation; a decisive break above the $1.269–$1.29 resistance would likely trigger momentum buying. Short-term risks remain: rumor-driven spikes can produce fakeouts and quick profit-taking, and a loss of $0.821 support could accelerate selling. Overall, past events where projects paired visible deflationary mechanics with transparent on-chain activity (e.g., buyback/burn programs in other altcoins) have tended to produce sustained appreciation after initial consolidation, supporting a cautiously bullish outlook for ASTER.