Whales Open $71 Million Short Position on ASTER Following CZ’s Purchase Announcement
- Two major crypto whales have opened a combined short position of approximately $71 million against ASTER.
- Binance founder Changpeng Zhao (CZ) disclosed his personal purchase of ASTER, which led to increased market interest.
- One whale established a $49.17 million short position with a liquidation price of $2.09, while another added an $18.45 million short.
- Following CZ’s announcement, ASTER surged by over 27% within hours and previously rallied by up to 1500% after his endorsement.
- The derivatives volume for ASTER rose by 186%, reaching $3.04 billion, with open interest increasing by 70% to $781.86 million.
The actions of the whales come amidst renewed enthusiasm for ASTER, driven by CZ’s buy announcement and the recent launch of a token buyback program that could influence pricing dynamics.
Despite significant short positions taken by whales, Binance traders remain optimistic, as indicated by a long-to-short ratio of nearly two on the platform.(Source)
