- A major investor sold millions of ASTER tokens and absorbed a 22% loss within two weeks.
- ASTER’s price has fallen below key levels, signaling a short-term bearish bias.
- The Aster team has reassured the community about supply concerns, confirming there are no plans to sell unlocked tokens.
The digital asset market remained pressured on Wednesday, with the total crypto market capitalization at $2.94 trillion after a 0.65% decline over the past 24 hours.
Bitcoin also held steady to slightly lower, trading near $86,640 following a modest 0.30% drop on the day.
While many altcoins have been trying to regain footing following a broader market downturn, ASTER has experienced renewed selling pressure as large holders exit positions.
The token has lost nearly 10% of its value in the last 24 hours, highlighting persistent downward momentum.
According to Lookonchain, a single whale sold 3 million Aster coins today, worth roughly $2.33 million at the time of sale.
The transaction occurred when the altcoin was trading around $0.78 per token.
Notably, the whale acquired these tokens only two weeks ago and is now facing an approximate loss of 22% (about $667,000).
Such moves often reflect more than a single failed trade. Whales typically tolerate higher risk and plan to hold long term, sometimes waiting for the asset to turn bullish.
When a major investor cuts losses and exits, it can indicate a lack of conviction in near-term price recovery.
This whale’s sell-off coincided with ASTER’s significant price decline, reinforcing the prevailing bearish sentiment.
ASTER price analysis
Aster’s native token is trading at $0.7475 after losing more than 8% over the past 24 hours.
Daily trading volume has risen by nearly 45%, signaling heightened activity as participants likely liquidate positions ahead of further declines.
ASTER recently broke a crucial support zone at $0.81–$0.82 and that area is now likely to act as overhead supply.
This break suggests strong bearish pressure, and any recovery toward $0.80 is likely to encounter significant selling.
Sellers are targeting the $0.72 level, where ASTER briefly paused during the prior decline.
If buying interest does not materialize at that level, the token could be vulnerable to further losses toward the psychological $0.70 zone in the short term.
Conversely, ASTER needs to reclaim $0.82 to shift the short-term bias toward bullishness.
Clearing $0.85 with strong volume could pave the way for a move to $0.90 and eventually open a path toward $1.00.
Aster team bolsters community confidence
Amid mounting downward pressure, the DEX addressed supply concerns directly.
Earlier today, the team posted on X to confirm completion of the December Community and Ecosystem token unlocks.
They moved the unlocked tokens to a single address that now holds 235.2 million Aster coins following three months of scheduled releases.
Importantly, Aster emphasized that they have no immediate plans to deploy the unlocked tokens and that any future distribution plans will be communicated in advance.
Although the reported transfer does not add new supply to circulating tokens, it arrives amid elevated uncertainty as traders worry about additional selling pressure if key holders decide to liquidate.
For now, the market awaits signs of renewed buying interest or further capitulation from large holders before direction becomes clear.