Aster Plunges 20% As “Anti-Cz” Whale Scores $21M Profit On Short Bets

What Happened

According to on-chain data compiled by Lookonchain and Hyperliquid, two wallets linked to the so-called Anti-CZ Whale opened substantial short positions in ASTER shortly after CZ’s announcement.

Market Context

The account 0xbadbb1de95b5f333623ebece7026932fa5039ee6" rel="nofollow noopener noreferrer" target="_blank">shows an unrealized profit of $8.38 million, primarily driven by its ASTER short from an entry of $1.16 to a current price of $0.88, a 25% decline.

Aster’s 24-hour trading volume has fallen sharply to around $1.35 billion, down 47% from the previous day, signaling fading market activity after the initial rally.

The token, once trading as high as $2.41, is now down over 63% from its all-time high. It has declined 13.3% in the past day, 17.8% over the week, and nearly 57% in the last 30 days.

CZ reacted to the market slump by admitting his history of poor timing in crypto buys. “Every time I buy coins, I get stuck in a losing position,” he wrote on X.

CZ also hinted he may stop publicly revealing future purchases to avoid influencing market sentiment.

The price is hovering near $0.95, where selling pressure appears to be easing. A breakout above $1.01 could trigger a short-term recovery toward $1.20 or $1.50 if momentum returns.

Why It Matters

He recalled buying Bitcoin at $600 in 2014 before it fell to $200 and BNB in 2017 before it dropped 30%. He added that he recently increased his ASTER holdings but warned others to “be careful of risks.”

Despite the downturn, some analysts believe ASTER could be approaching a short-term rebound.

Chart watchers say the ASTER/USDT pair is forming a falling wedge pattern on the four-hour chart, a technical signal often linked to potential reversals.

However, a drop below $0.85 could expose the token to further losses, with support near $0.76.

Details

Aster (ASTER), one of the most discussed decentralized exchange (DEX) tokens in recent weeks, dropped more than 20% in the past 24 hours, wiping out much of the rally that followed Binance founder Changpeng Zhao’s (CZ) endorsement.

The decline delivered massive gains to a trader known as the “Anti-CZ Whale,” who now holds over $21 million in unrealized profits from shorting ASTER across two wallets.

The downturn follows a volatile stretch for ASTER, which surged last week after CZ revealed he had personally purchased more than $2 million worth of the token.

CZ’s post immediately triggered buys, pushing ASTER from around $0.91 to a high of $1.26 before reversing sharply as whales began increasing their short exposure.

‘Anti-CZ Whale’ Nets $18.4M as ASTER Drops Below $0.90 After CZ’s Buy

Together, the wallets control more than $51 million in ASTER shorts, generating about $18.4 million in unrealized profit as the token slid back below $0.90.

One of the wallets, identified as 0xbadb, holds roughly $24.6 million in equity with positions focused on ASTER and Dogecoin (DOGE).

The second wallet, 0x9eec9, 0x9eec98D048D06D9CD75318FFfA3f3960e081daAb" rel="nofollow noopener noreferrer" target="_blank">carries an even larger book of $73.7 million across several assets, including ASTER, DOGE, ETH, XRP, and PEPE. It has logged over $29 million in unrealized gains, with ASTER alone contributing around $14 million.

Both accounts maintain full short exposure using leverage between 3x and 20x, bringing the trader’s total unrealized profit on Hyperliquid close to $100 million.

CZ Admits “Poor Timing” After Aster’s 57% Monthly Drop; Analysts Eye Technical Rebound

According to DefiLlama data, Aster’s total value locked (TVL) has dropped from $2.5 billion in early October to about $1.47 billion.

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