ASTER Surges 9.8% To $0.7307 As New Wallet Withdraws $1.6M ASTER. Will It Sustain Its Uptrend?

Aster (ASTER) is attracting market attention due to heightened token demand and rejuvenated user buying activity in its crypto network. Today, market analyst Lookonchain spotted a newly created crypto wallet that executed a massive transaction by withdrawing 1.12 million ASTER tokens worth $1.6 million from the Binance exchange. This transaction brought the ASTER coin into the public limelight among the wider cryptocurrency community. 

Aster (ASTER) is the native cryptocurrency of Aster, a decentralized exchange (DEX) platform that allows crypto users to trade perpetual contracts with up to 1001x leverage across numerous crypto assets. Data from CoinGecko shows that Aster is currently the second-largest perpetual DEX platform by trading volume, following Hyperliquid (the market leader), while EdgeX and Lighter take the third and fourth positions, respectively.

This significant token accumulation in the current highly volatile crypto market holds crucial impact on liquidity and investor sentiment in the digital asset market.

What This Withdrawal Means for Aster

As shown above, the newly created wallet’s move to withdraw 1.12 million ASTER tokens valued at $1.6 million from Binance has caught the attention of crypto market watchers, including Lookonchain. This form of transaction activity typically indicates looming accumulation by smart money or institutional customers, particularly when huge sums of tokens are pulled off from centralized exchanges and transferred into private wallets.

The wallet’s transaction suggests that crypto whales are positioning themselves for ASTER’s next market phase as February continues to elapse its days. On-chain data shows that large investors, popularly known as whales, are already accumulating ASTER tokens ahead of an imminent trend shift. According to data from Artemis, big wallet investors have accumulated over 170 million ASTER tokens over the last five days, a move that backs the asset’s recovery momentum. These renewed acquisitions of the altcoin indicate a heightened appetite for larger investor enthusiasm in the asset, which, as a result, bolsters ASTER prices. Also, Santiment’s supply distribution data supports a bullish outlook for ASTER as whales holding 100 million to 1 billion tokens have shown increased interest in the crypto platform.

ASTER Price Prediction

Today, ASTER recorded an impressive 9.8% rise, making its price currently trade at $0.7289. The DeFi token has also been up 35.2% and 3.9% over the past week and monthly respectively, showing its upside momentum. 

Typically, when whales renew their interest and engage in expanded purchasing activity, this forecasts huge surges in price for any cryptocurrency, hinting that ASTER is further set to provide investors with stronger returns soon.   

Besides remarkable price jumps, ASTER’s trading volume today rose by 20.62% over the past 24 hours, according to data from CornMarketCap. This reveals a capital inflow structure beneath its price action, suggesting that its market rally is being driven by organic supply and demand. This points out that the crypto’s price is preparing to pump higher in the coming weeks.