A whale opened a 4x long position on 7.2 million ASTER worth $4.33 million on Aster_DEX and staked 4.02 million ASTER worth $2.42 million for 4 years. ASTER was trading at $0.6015, down 0.6% in 24 hours, with a Long/Short ratio of 1.77 and 63% longs in the derivatives market. Despite this significant capital deployment, ASTER’s bearish structure remains strong with the Stochastic Momentum Index in the negative zone. The altcoin risks losing the $0.6 support and dropping to $0.58 if selling pressure continues.
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