- CZ’s $2.5M ASTER buy sent the token up 40% before a sharp correction.
- Two whales shorted the rally, profiting over $7 million combined.
- ASTER is holding key support around $1.05 — a break above $1.29 could restart the uptrend.
The ASTER token just had one of those wild crypto rollercoaster days. Right after Binance co-founder Changpeng Zhao (CZ) revealed he’d scooped up $2.5 million worth of ASTER on November 2, the token exploded 40%, hitting a high of $1.25. But the hype didn’t last. Within hours, sellers took control, wiping nearly all the intraday gains.
Adding fuel to the drama, two whale traders reportedly shorted ASTER right after the spike, cashing out with over $7 million in profit while retail traders were still celebrating.
Whales Strike as ASTER Loses Steam
Like the pump, the dump came fast. ASTER dropped nearly 15% from its peak, finding support again around $1.05 — the same area that’s been acting as a price magnet for weeks. On-chain sleuths at Lookonchain spotted two whale addresses — one pocketing $6.15 million and the other roughly $1.56 million from short positions timed perfectly with the retrace.
Interestingly, CZ didn’t seem bothered by the selloff. He took to X (Twitter) to remind everyone:
“It’s a decentralized world. Anyone can short, anyone can long, anyone can hold.”
That’s classic CZ — cool under pressure, even when the market reacts in unpredictable ways.
Meanwhile, analyst Altcoin Ardi pointed out that ASTER’s correction has landed exactly at the 61.8% Fibonacci retracement, a level often seen as a potential reversal point. The $1.00–$1.05 range is now the critical zone to watch. If it holds, bulls might still have a shot at a rebound.
CZ’s DEX Bet Still Looks Bold
Despite the intraday chaos, this isn’t CZ’s first move with ASTER. The Binance founder has been publicly backing the DEX altcoin, describing it as part of the next wave of decentralized trading innovation. His latest buy — that $2.5 million — came right after rumors claimed he’d dumped 35 million ASTER tokens earlier. CZ quickly shut down those claims, calling them false.
But the market clearly paid attention. Trading volume for ASTER skyrocketed 900% to $2.5 billion within 24 hours. At the same time, futures open interest jumped 45% to $647 million, according to Glassnode data. That’s a clear sign traders are betting big — in both directions.
What’s Next for ASTER?
Right now, the key battle is happening around that $1.05 level. If it breaks lower, the sell pressure could drag the price toward $0.95 or even deeper. But if buyers step back in and push above $1.29, it could confirm a fresh uptrend and potentially reignite the hype around CZ’s DEX pick.
For now, it’s another classic crypto story: a billionaire tweet, a 40% moonshot, and a few whales quietly making millions while the crowd watches.
