Aster Price Drops Amid CZ Sell-Off Rumors, Recovery to $1 Possible

• Rumors of CZ’s sell-off triggered aggressive selling, pushing Aster to a two-month low.

• Disputed claims by on-chain analysts helped stabilize the price with rising buyer interest.

• Aster saw $107 million in spot sell volume versus $103 million in buys, alongside $8.5 million in futures liquidations over the past 24 hours.

Aster price drop today: Uncover why Aster fell 19% amid CZ sell-off rumors, disputed claims, and market panic. Explore recovery signals and trading insights for Aster crypto investors.

Why Did Aster’s Price Drop Today?

Aster’s price drop today stemmed from widespread rumors that Binance founder Changpeng Zhao (CZ) offloaded 35 million ASTER tokens, valued at approximately $30.42 million, causing a sharp 19% decline from $1.05 to $0.85, a two-month low. This panic led to heightened selling across spot and futures markets, but the token began recovering after on-chain data disputes linked the transfers to internal Binance wallet movements rather than personal sales by CZ. At the time of reporting, Aster traded at $0.92, reflecting a 7.92% daily loss and an 18% weekly decline.

What Caused the Panic in Aster’s Market?

The Aster price drop was exacerbated by social media speculation and rapid dissemination of unverified information within the crypto community. Reports from on-chain monitoring services, such as Lookonchain, clarified that the 31.84 million ASTER tokens transferred—worth $34.53 million—were simply movements between Binance’s hot wallets, not indicative of CZ liquidating holdings. Despite this, initial fear prompted a surge in spot selling, with data from Coinalyze showing $107 million in sell volume compared to $103 million in buy volume over the past 24 hours, resulting in a negative buy-sell delta of -$4 million.

Top holders amplified the pressure by offloading 35.6 million tokens, as tracked by Nansen analytics. Historically, such coordinated selling from large addresses has correlated with sustained downward trends in altcoins like Aster, underscoring the influence of whale activity on price stability. Expert analysts note that in volatile markets, misinformation can lead to over 20% intraday swings, emphasizing the need for verified on-chain data before reacting.

Source: Coinalyze

In the futures market, the fallout was equally severe, with liquidations reaching a two-week high of $8.5 million, predominantly longs at $8.2 million, according to CoinGlass metrics. Futures outflows spiked to $552 million, reversing prior inflows of $509 million and pushing netflow to -$42 million. This shift signals diminished leverage and increased caution among traders, further pressuring the spot price.

Source: CoinGlass

Source: Coinglass

Technical indicators reinforce the bearish sentiment post-drop. Aster’s Stochastic RSI fell from 26 to 12, indicating oversold conditions but ongoing seller dominance. The Relative Vigor Index crossed bearishly to -0.138, suggesting strengthened downward momentum. When these metrics align at such lows, they often precede continued declines unless countered by fresh buying.

Source: TradingView

Source: Nansen

Frequently Asked Questions

Why did Aster experience a 19% price drop amid CZ rumors?

The Aster price drop was triggered by unverified rumors of Binance founder CZ selling 35 million ASTER tokens, leading to investor panic and a wave of spot and futures selling. On-chain analysis later confirmed these were internal transfers, but the initial reaction caused the sharp decline to $0.85 before a rebound.

Can Aster recover from its recent price drop?

Yes, Aster shows early recovery signs with disputed sell-off claims and growing buyer interest absorbing sell pressure. If bullish momentum builds, it could retest $1, supported by oversold technicals like a low Stochastic RSI, though sustained selling might push it toward $0.90 support.

Key Takeaways

• Rumors drive volatility: False claims of CZ’s sell-off caused Aster’s 19% drop, but quick disputes aided rebound to $0.92.
• Market metrics signal caution: High sell volumes and $8.5 million in liquidations highlight aggressive trading, with negative netflows indicating short-term bearishness.
• Monitor for recovery: Oversold indicators suggest potential upside if buyers dominate, targeting $1 resistance; investors should verify on-chain data before acting.

Conclusion

The recent Aster price drop today underscores the crypto market’s sensitivity to rumors and whale movements, with the 19% plunge tied to disputed CZ sell-off claims and resulting panic. As trading stabilizes at $0.92, key indicators like bearish crossovers point to ongoing pressure, yet rising buyer interest offers hope for recovery toward $1. Investors should stay informed through reliable analytics to navigate Aster crypto’s volatility effectively.