Whale’s ASTER Short Nets $1M; ETH/XRP Longs Lose $21.5M
On November 19, an on-chain whale shorted 50.62 million ASTER tokens at $1.20 after CZ disclosed his holdings. When ASTER tumbled to $0.84, the position showed over $16 million in unrealized gains. However, the whale delayed exit and closed 4.79 million tokens at $1.02, netting just $1 million profit. Significant ASTER holdings still carry millions in unrealized gains. The same address then deployed $300 million in long positions on ETH at $3,220 and XRP at $2.29. Continued market declines have pushed these longs into a combined $21.5 million unrealized loss. This sequence highlights high volatility, the importance of timely profit-taking, and risk management for crypto traders.
Bearish
The news is bearish for ASTER. A major whale’s large-scale short against ASTER adds selling pressure in the short term. Although the token rebounded somewhat, the profit-taking delay suggests limited upside. The whale’s unrealized gains signal ongoing volatility. Combined with losses on ETH and XRP positions, risk sentiment could remain cautious, weighing on ASTER’s price. Traders may avoid taking fresh long positions until clear support emerges.