Crypto Whale Nets $100M Shorting ASTER and Other Tokens After CZ ASTER Buy
An anonymous crypto whale has netted nearly $100 million by shorting ASTER, ETH, XRP, DOGE and PEPE following Binance CEO Changpeng Zhao’s $2.5 million ASTER purchase announcement. The whale’s 58.27 million ASTER shorts on Hyperliquid—worth $51.14 million with a $2.091 liquidation price—have generated about $21 million in unrealized gains as ASTER’s price fell over 20% to $0.88. Combined with profitable shorts on ETH, XRP, DOGE and PEPE, the trader’s total profit reaches almost $100 million. This contrarian strategy capitalized on hype-driven ASTER rallies and broader market corrections after events like the $120 million Balancer exploit. Meanwhile, major crypto indexes slid 3.75%, fear levels rose to 27 and over $1.3 billion in long positions were liquidated. Zhao clarified he is a long-term investor, not a trader, igniting initial buying momentum. The divergence between CZ’s buy-and-hold ASTER strategy and the giant whale’s aggressive shorting underscores ongoing volatility and opportunism in the crypto market.
Bearish
The heavy short positions on ASTER reflect growing bearish sentiment toward the token, and the whale’s profits underscore the downward momentum. Following CZ’s high-profile ASTER purchase, this large-scale shorting may prompt other traders to add or hold short positions, intensifying selling pressure. In the short term, ASTER is likely to face continued downward movement driven by market liquidity constraints and fear-driven sell-offs. Over the long term, without fresh buying catalysts, sustained selling and high volatility could undermine investor confidence. Occasional support from CZ’s buy-and-hold stance may offer brief rallies, but overall bearish sentiment toward ASTER will likely persist.