Whales Move Over $10 Million in ASTER Tokens
On-chain tracker Lookonchain reported heavy whale activity in ASTER, the native token of decentralized exchange Aster. In the past 24 hours, three major wallets moved more than $10 million worth of ASTER tokens. This activity suggests large investors remain interested shortly after the token’s launch.
- The largest wallet, 0x04EA, transferred 7.04 million ASTER tokens ($4.66 million) about 13 hours ago.
- Wallet 0xe1Da withdrew 5.1 million tokens ($4.1 million) roughly 10 hours ago.
- Wallet 0x841D deposited 2.22 million APX ($2.22 million) and swapped it for $2.11 million worth of ASTER tokens a few hours later.
These movements indicate whales may be holding their positions rather than selling quickly.
Aster’s Launch and Early Performance
Aster is a decentralized perpetual exchange launched in July on the BNB Chain. It is backed by YZi Labs (formerly Binance Labs) and supported by PancakeSwap. The platform allows users to trade cryptocurrencies with leverage.
The ASTER token debuted on September 18. Within hours, its price surged over 300%. This followed months of activity through the Aster Genesis program, which distributed 704 million ASTER tokens via airdrops to early users.
Market Overview and Recent Developments
ASTER currently trades at $0.937, up about 58% in the last 24 hours. Its market capitalization stands at $1.55 billion. The 24-hour trading volume reached nearly $708 million, a 76% increase from the previous day.
Recent growth is driven by new exchange listings and increased speculation. On September 19, OrangeX launched a 25x ASTER perpetual contract, attracting leverage traders. Rumors of an APX-to-ASTER token swap have also contributed to interest. Binance founder Changpeng Zhao (CZ) mentioned ASTER on social media, adding further attention.
On Thursday, Hyperliquid listed ASTER with up to 3x leverage. The exchange warned about low liquidity and volatility but still attracted more traders.
Strong Early Growth
On its first day after launch, Aster recorded $345 million in trading volume. The platform reached over $1 billion in total value locked (TVL) and gained more than 330,000 new users. CZ praised Aster’s debut as one of the strongest of the year.
Outlook
Whale activity continues, new exchanges are listing ASTER, and trading volumes are rising. The token has gained strong momentum in a few days. However, sustaining growth will be challenging in the competitive DeFi market.
Disclaimer: This article is for informational purposes only. It does not constitute financial advice. Cryptocurrency investments carry risks. Please conduct your own research before investing.
