CZ Buys ASTER Token After 30% Dip From Weekly Highs

Binance founder Changpeng Zhao (CZ) has recently announced the purchase of additional ASTER tokens, the second time in a week. His latest purchase comes after the decentralized exchange (DEX) token corrected 30% from the highs of $1.25.

Also, it is currently finding support at $0.85. With Zhao’s latest purchase, the market activity around the token could rise again.

Binance’s Changpeng Zhao Buys ASTER Token Dips

Following his announcement of more than $2 million in ASTER tokens last weekend, Binance founder Changpeng Zhao (CZ) chips in again. Today, November 4, Zhao made yet another purchase; however, it comes at a lower price.

This occurred as the ASTER token price experienced a pump-and-dump event. Following CZ’s purchase over the past weekend, ASTER token shot up to $1.25. However, it faced strong rejection there and has since corrected by 30%. This fall comes amid the broader crypto market crash, with liquidations reaching record highs.

Binance founder Changpeng “CZ” Zhao shared a lighthearted post on X, reflecting on his history of poorly timed crypto purchases while cautioning investors to remain aware of market risks.

Zhao noted that “every time I buy coins, I get stuck in a losing position.” He recalled past experiences such as buying Bitcoin at an average of $600 in 2014, and it dropped to $200 within a month. He said that a similar incident happened after his BNB purchase in 2017, as the price dropped 20-30% later on.

The Binance founder added that he recently increased his holdings again but said he would refrain from disclosing future purchases to “avoid affecting everyone’s market.”

Amid the current crypto market volatility, CZ also advised investors to maintain caution and avoid FUD (Fear, Unrest, and Doubt). Furthermore, he also advised investors to verify official news sources.

Short ASTER Token Whale Mints Millions

On-chain analytics platform LookonChain reported that a trader known as the “Anti-CZ Whale” has accumulated more than $21 million in unrealized profit, by shorting ASTER token at the weekly top of $1.25. The whale capitalized after the token price surged instantly following CZ’s weekend purchase.

BNB Chain-based decentralized exchange (DEX) Aster has gained popularity as a competitor to Hyperliquid. Changpeng Zhao has extended his support to the project for a while, which has helped the project gain some traction.

In its first week of launch, the exchange surpassed Hyperliquid in daily revenue, although trading volumes remained lower. During the same period, the platform’s native Aster (ASTER) token surged to a $3.2 billion market capitalization, ranking it as the 50th largest cryptocurrency.

What Happens to ASTER Price Ahead?

Crypto analyst Ardi has issued a bearish outlook for the Aster token, after the price dropped to a new local low of $0.081, signaling mounting pressure on bullish momentum.

Ardi noted that several key structural levels have been broken, warning that the loss of a cluster of Fibonacci support zones across multiple timeframes could trigger a deeper correction. The analyst described the current setup as “not looking good for the bulls,” suggesting the possibility of a harsher market downturn ahead.