Nov 3, 2025
7 0
ASTER Token Surges 40%, Short Whales Mint $7 Million
- Binance co-founder Changpeng Zhao (CZ) announced buying $2.5 million worth of ASTER tokens on Nov. 2, causing a 40% surge to $1.25.
- The ASTER token later corrected by 15%, finding support at $1.05, coinciding with two whale entities shorting the altcoin and gaining more than $7 million.
- The address ….81daAb profited approximately $6.15 million, while …..5039ee6 gained around $1.56 million from their short positions, according to Lookonchain.
- CZ emphasized the decentralized nature of the market, allowing anyone to take long or short positions.
- Market analyst Altcoin Ardi pointed out that ASTER is experiencing a 61.8% Fibonacci retracement, testing critical support at the $1.0-$1.05 range.
- Following accusations of CZ selling 35 million ASTER coins, he denied the claims, leading to a surge in daily trading volume by 900% to $2.5 billion.
- Glassnode data indicates a 45% increase in ASTER futures open interest, reaching $647 million, suggesting potential for a rebound.
- A breakout above $1.29 could confirm an uptrend for the altcoin.
