Price Volatility Follows Major Endorsement

The ASTER token experienced a volatile trading session after a high-profile purchase by Binance co-founder Changpeng Zhao (CZ). On November 2, 2025, Zhao announced his acquisition of $2.5 million worth of ASTER, causing the token’s price to surge 40% to an intraday high of $1.25. However, the rally was short-lived, as the token faced a major rejection and fell 15% from its peak.

This sharp downturn coincided with two large-scale investors, or “whales,” opening significant short positions against the asset. According to the on-chain analysis firm Lookonchain, these trades proved highly profitable. One entity reportedly gained approximately $6.15 million, while another secured around $1.56 million, bringing their combined profits to over $7 million from betting on the price drop.

Market Reaction and Technical Support

In response to the market activity, Zhao commented on the nature of decentralized finance. He stated, “It’s a decentralized world. Anyone can short, anyone can long, anyone can hold.” His recent endorsement is part of a broader pattern of support for the Hyperliquid competitor, which also recently secured a listing on the Robinhood exchange.

Market analyst Altcoin Ardi noted that the ASTER price is currently experiencing a 61.8% Fibonacci retracement, a key technical indicator. According to the analyst, the token is now retesting a critical support zone between $1.00 and $1.05. Holding this level is considered essential for the token to resume any upward movement.