ASTER token is down after the CZ-led rally, as whales short in big numbers. This triggered a price drop by 15% from the intraday highs.
By Bhushan Akolkar
Editor Julia Sakovich
Updated
2 mins read
Soon after Binance co-founder Changpeng Zhao (CZ) announced purchasing $2.5 million worth of ASTER tokens on Nov. 2, the altcoin surged 40% hitting a high of $1.25. However, the DEX crypto is now facing a major rejection, losing almost all of its intraday gain. Meanwhile, two whale entities that shorted the altcoin have minted more than $7 million.
Similar to the vertical rise, the ASTER token has seen a sharp drop, correcting 15% from $1.25, and is currently once again finding strong support at $1.05. This fall coincides with two whale entities shorting the DEX altcoin after the recent CZ-led pump. The Binance co-founder has endorsed ASTER in recent weeks, with the Hyperliquid DEX competitor making its way to the Robinhood exchange.
The address ….81daAb has gained approximately $6.15 million, while …..5039ee6 is up around $1.56 million from their short positions, reported Lookonchain.
Both whales shorting $ASTER are currently in profit —
0x9eec9 is up $5.9M, while 0xbadb is up $1.4M.https://t.co/KMir3v6Slwhttps://t.co/56qZmvzxsn pic.twitter.com/SMPUHtPLAq— Lookonchain (@lookonchain) November 3, 2025
Commenting on this latest development, CZ wrote:
“It’s a decentralized world. Anyone can short, anyone can long, anyone can hold”.
Popular market analyst Altcoin Ardi noted that the ASTER token price is currently seeing a 61.8% Fibonacci retracement, while once again coming to test the crucial support at $1.0-$1.05 range. The analyst noted that it is important for the altcoin to hold these support levels for a continued upward movement.
ASTER token tests critical support | source: Altcoin Ardi
Binance founder Changpeng Zhao (CZ) has been betting big on DEX altcoin ASTER, announcing a massive purchase worth $2.5 million.
Full disclosure. I just bought some Aster today, using my own money, on @Binance.
I am not a trader. I buy and hold. pic.twitter.com/wvmBwaXbKD
— CZ 🔶 BNB (@cz_binance) November 2, 2025
The latest purchase came soon after a recent claim accused CZ of selling a massive 35 million ASTER coins. Following the accusations, the Binance co-founder outrightly rejected the claims.
However, CZ’s recent announcement led to a massive surge in ASTER daily trading volume, which surged 900% to $2.5 billion. Also, Glassnode data shows that the ASTER futures open interest is up 45% to $647 million. Thus, the DEX altcoin can rebound from the current levels. However, a breakout above $1.29 will confirm the uptrend.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
