Crypto Whales Short $71 Million Against ASTER After CZ’s Buy Sparks Market Frenzy

Two major crypto whales have collectively opened $71 million in short positions against ASTER, shortly after Binance founder Changpeng Zhao (CZ) disclosed that he had personally purchased the token. The move has intensified speculation and volatility around the project.

CZ announced his purchase on X (formerly Twitter), stating, “Full disclosure. I just bought some Aster today, using my own money, on Binance. I am not a trader. I buy and hold.” His statement immediately fueled market enthusiasm, pushing ASTER’s price up by 27% within 24 hours. Previously, the token surged over 1,500% following CZ’s earlier endorsement and the team’s newly launched buyback program, which analysts say could further tighten supply and boost price momentum.

According to Lookonchain, one whale—identified by the wallet address 0x9eec…1daab—opened a $49.17 million short on the decentralized derivatives exchange Hyperliquid, using 3x leverage. The position now represents 42.97 million ASTER tokens worth approximately $52.8 million, with a liquidation price set at $2.09. Another large trader, using the wallet 0xBADBB…3eE6, deposited 3.8 million USDC to open an $18.45 million short, bringing the total bearish exposure to around $71.25 million.

Despite heavy short activity on Hyperliquid, data from Binance shows traders remain optimistic. ASTER’s long-to-short ratio on the exchange stands at 1.90, indicating strong bullish sentiment. Derivatives volume jumped 186% to $3.04 billion, while open interest surged 70% to $781.86 million—evidence of growing speculative interest. Top Binance traders also showed confidence, with account and position ratios at 1.83 and 2.08, respectively.

While whales appear to be betting against ASTER’s recent rally, bullish momentum from retail traders and CZ’s influence could keep the token’s price action unpredictable in the coming days.