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.
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.
ASTER Token Dump, Short Whales Mint $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
Changpeng Zhao Bets Big on DEX Altcoin ASTER
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.
next