Key Highlights
- Big whales keep buying ASTER, fueling confidence, while traders jump in for short-term gains amid uncertainty about its long-term path.
- Growing whale accumulation and rising derivatives activity signals strong market interest despite unclear long-term direction.
- Both new and seasoned investors pile into ASTER, creating momentum, but volatility and uncertainty mean risks remain alongside opportunity.
Crypto whales are steadily buying Aster (ASTER) token despite uncertainty around its sustainability, drawing attention and sparking discussion in the crypto community. Onchain transaction data show that large-scale investors have been increasing their ASTER holdings over the past few days. At the same time, traders are taking more positions in derivatives, even though the token’s long-term outlook remains uncertain.
According to blockchain analytics firm Lookonchain’s post on X, a well-known whale—who profited more than $36 million buying PEPE—has been actively buying ASTER since November 4. The address has accumulated over 8.41 million ASTER, worth about $8.14 million, at an average price of $0.97, already sitting on an unrealized profit of $1.1 million.
Data from Arkham Analytics further shows that the same wallet now holds approximately $17.74 million in digital assets. The portfolio includes a diverse mix of cryptocurrencies, featuring AAVE and ASTER as the two biggest positions, valued at $8.79 million and $8.29 million, respectively.
While AAVE fell 3.78% to $208.89, ASTER rose 4.48%, trading near $1.12, making it the only big winner in the whale’s portfolio. Other assets like Pendle, Ethereum, BNB, and Wrapped Bitcoin make up smaller portions. Despite minor daily changes of about 0.05% in the wallet’s total value, the whale’s buying shows continued confidence in ASTER.
Rising whale participation
According to on-chain firm Evening Trader Group, whale accumulation of ASTER has expanded significantly in recent weeks. The top externally owned address (EOA) now holds 42.17 million ASTER, worth around $47.12 million, at an average price of $1.04.
The group also revealed that new large investors have entered the scene. One of the new top three EOA addresses began buying two weeks ago, purchasing 8.06 million ASTER, valued at $9.01 million, at an average price of $1.13.
At the time of publishing, ASTER was trading near $1.16, up 8% in the past 24 hours, as per CoinMarketCap data. Its 24 hours trading volume was $807 million and market capitalization sitting near $2.34 billion.
Derivatives market heats up
Derivatives data from Coinglass also reflects the increasing excitement of traders. In the last 24 hours, the total derivatives volume of ASTER jumped 34.47% to $1.89 billion and open interest rose 8.83% to $550.87 million. The rise in both indicators points out an increase in speculative activity and improved market participation.
On Binance, for instance, the long-to-short ratio was standing at 3.13, while on OKX, it stood at 2.17, meaning more than twice as many traders are betting on ASTER’s increase in price. Among Binance’s top traders, the optimism is even stronger with ratios of 3.27 by accounts and 2.22 by position size.
However, such high leverage has also caused significant liquidations: in the last 24 hours, total liquidations stood at $2.14 million, comprising $1.56 million from longs and $582,000 from shorts. This is indicative of higher volatility and speculation over the token.
Market technicals and trader sentiment
Crypto analysts remain divided on the next move. CryptoBull_360 stated on X that, “ASTER is getting ready for a strong breakout this time! trend approaches the symmetrical triangle + horizontal trendline resistance zones in LTFs. Strong flip off from here could trigger 40–60% short term move.” The analyst pointed to rising volume and strong momentum as key signals.
As big investors are buying more ASTER, showing confidence, traders are also betting on short-term moves. Still, the token’s long-term path remains uncertain. ASTER sits at a turning point, offering both potential gains and risks.
Also Read: Arthur Hayes Buys UNI Token After 3-Year Long Hiatus
