Whale’s large Aster transfer fuels market uncertainty amid losses and divided sentiment
A major Aster holder moved 34.62 million coins into the token, prompting concern among traders as its price declines and market sentiment remains split between optimism and bearish pressure.
A major Aster holder moved 34.62 million coins into the token, prompting concern among traders as its price declines and market sentiment remains split between optimism and bearish pressure.
A large ASTER holder has renewed pressure on the token after moving 34.62 million coins, worth about $22.95 million, into Aster, according to Lookonchain monitoring cited by several crypto outlets. The transfer came after months of inactivity and was followed by a 4.4% slide in the token’s price, deepening losses for a wallet that had built its position around seven months earlier.
The same address had accumulated 68.25 million ASTER at an average cost of $1.66 each, putting the original bet at roughly $113 million, according to reports from Phemex and Ambcrypto. After the latest move, the wallet still controlled 24.25 million ASTER, valued at about $15.92 million, leaving the holder with paper losses of more than $67 million.
Market watchers have been reading the transfer as a potential warning sign, although on-chain movement does not always mean an outright sale. In some cases, such deposits can reflect liquidity management, trading preparation or internal wallet reshuffling rather than immediate distribution into the market.
Broader trading data suggests sentiment remains divided. Derivatives metrics showed a modest long bias on Binance, where the ASTER/USDT account long-short ratio stood at 1.1182, while OKX displayed a stronger lean towards longs at 2.12. Binance top-trader positioning was even more tilted, with the position ratio at 1.7141, indicating that larger accounts were still expecting upside.
That optimism has not prevented heavy losses for bullish traders. Liquidations over the past 24 hours totalled about $2.31 million, with $2.29 million coming from long positions and just $23.33,000 from shorts, according to the same market data. The imbalance suggests a market still willing to bet on recovery, even as whale activity and forced unwinding continue to weigh on sentiment.
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Source: Noah Wire Services