Major Whale Loses $1M in One Day, Replenishes $6.6M in ASTER to Binance

A whale investor has lost over $1 million in one day and has re-stored 5.01 million ASTER tokens worth $66.1 million on Binance. The investor held the tokens for just one day, resulting in the significant loss.

A prominent whale investor has experienced a substantial financial setback, losing over $1 million in a single day. The investor initially held 5.01 million ASTER tokens, valued at approximately $6.61 million. However, after a brief period of holding, the tokens were re-deposited into Binance, resulting in a significant loss, according to Lookonchain.

The investor's actions coincide with a turbulent week for the global cryptocurrency market. Last Friday, the sector witnessed steep losses, with traders liquidating more than $19 billion in positions. Among the assets heavily impacted was ASTER, which saw its price plummet 40.43%, sliding from $1.8464 to $1.10. Despite the downturn, ASTER has since rebounded, trading around $1.53 at press time, up nearly 14% in the past 24 hours, according to Crypto Basic.

The re-deposit of ASTER tokens follows a series of large transfers by Galaxy Digital, an asset management firm that has transferred a significant amount of ASTER tokens to Binance in recent days. The latest transfer, totaling 2 million ASTER tokens valued at roughly $3 million, brings Galaxy Digital’s total ASTER deposits for the past week to 40.8 million tokens, amounting to roughly $68.28 million, the report said.

The Aster project, of which ASTER is the native token, continues to evolve under the leadership of CEO Leonard Aster. The project is developing its own Layer-1 blockchain, named Aster Chain, which aims to deliver privacy-first architecture, low transaction fees, and sub-second finality while integrating built-in perpetual contracts, the Crypto Basic article noted.

The Aster project has gained early momentum through public endorsements from Changpeng Zhao (CZ), the former CEO of Binance, who has repeatedly promoted the token on his official X (formerly Twitter) account, according to Crypto Basic.