Ethereum

Anti-CZ Whale Bags $100M Shorting ASTER, XRP, ETH, PEPE”

11 hours ago
Bitcoin Ethereum News

Key Notes

  • An anonymous whale saw over $21 million in unrealized profits for betting against the bulls.
  • He has been shorting ASTER, ETH, XRP, DOGE, and PEPE.
  • The crypto market is witnessing yet another bloodbath.

While everyone was hyped with Binance founder Changpeng Zhao’s post, a smart trader, known as the “anti-CZ whale” among the community, went against the market noise. Zhao posted on Nov. 2 that he had accumulated over 2 million Aster (ASTER) tokens.

The crypto community instantly started praising the move under Zhao’s X post. However, the hype didn’t last long.

Aster started declining. The token is down by 20.4% in the past 24 hours and is trading at $0.84 at the time of writing. Its trading volume has been cut in half to $1.3 billion.

Despite the craze around the Binance founder’s post, the “anti-CZ whale” went in the opposite direction of the market hype.

Data from Lookonchain shows that the trader is seeing $21 million in unrealized profits on his ASTER position on Hyperliquid, a perpetual decentralized exchange.

He Read the Market

What did the whale know? No one knows. But the traders certainly didn’t fall for the fear of missing out, also called FOMO.

A crypto influencer, who goes by Joe, called the “anti-CZ” bet a “gutsy” move.

Joe added that the whale “read the market, not the hype,” which consequently brought him roughly $100 million in net profits while the broader crypto market has been drowning in losses.

The trader has also been shorting Ethereum

ETH
$3 498



24h volatility:
5.4%


Market cap:
$421.73 B



Vol. 24h:
$51.25 B

, XRP

XRP
$2.26



24h volatility:
5.7%


Market cap:
$136.11 B



Vol. 24h:
$6.88 B

, Dogecoin

DOGE
$0.16



24h volatility:
4.8%


Market cap:
$24.97 B



Vol. 24h:
$3.72 B

, and Pepe

PEPE
$0.000006



24h volatility:
8.2%


Market cap:
$2.37 B



Vol. 24h:
$724.18 M

.

The global crypto market cap is down by 3.75% in the past 24 hours and is hovering at $3.46 trillion, according to data from CoinMarketCap. Investor sentiment fell to the “fear” zone, currently at 27, again.

Moreover, the market-wide correction triggered over $1.3 trillion in liquidations over the past day, according to data from CoinGlass. Nearly $1.2 billion of the wiped-out positions belong to longs.

One of the reasons, apart from the macro conditions, for the selloff could be the $120 million Balancer exploit. The automated market maker was attacked on Nov. 3, Coinspeaker reported.

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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

Pepe News, Cryptocurrency News, News

Wahid Pessarlay

Wahid has been analyzing and reporting on the latest trends in the decentralized ecosystem since 2019. He has over 4,000 articles to his name and his work has been featured on some of the leading outlets including Yahoo Finance, Investing.com, Cointelegraph, and Benzinga. Other than reporting, Wahid likes to connect the dots between DeFi and macro on his newsletter, On-chain Monk.

Wahid Pessarlay on X


Source: https://www.coinspeaker.com/anti-cz-whale-sits-on-100m-profits-shorting-aster-xrp-eth-pepe/