Whale Shifts $9M From HYPE to ASTER

Key Insights:

• Whale sells $8.9M in HYPE and routes funds into Aster (ASTER).

• ASTER surges over 35% in 24 hours, now trading above $2.42.

• Influencers and traders are piling into ASTER.

A large Hyperliquid (HYPE) holder has just moved nearly $9 million into Aster (ASTER), signaling growing whale interest in the new decentralized exchange project.

Blockchain data from Lookonchain and Arkham Intelligence confirms that the wallet, which staked 2 million HYPE tokens nine months ago, recently unstaked and liquidated part of its holdings, redirecting the funds into Aster.

The whale had initially invested $17.4 million to acquire HYPE in September 2023, which grew to $107 million at peak value. On September 9, the user initiated an unstaking request, receiving the tokens 21 hours later.

By Tuesday, they had sold 201,900 HYPE tokens, worth roughly $8.93 million, and made at least three large transactions buying into Aster, including a $3.41M transfer, $2.41M swap, and a $3.99M exchange.

Even after the sale, the whale still holds 1.8 million HYPE worth over $80 million, indicating continued confidence in the Hyperliquid project, though their Aster move has sparked notable buzz across the market.

Momentum Builds as Traders Flock Into ASTER

The whale is not alone. New wallets are entering the ASTER market, driving up both volume and price. One newly created address, 0x5bd4, purchased 6.72 million ASTER tokens worth nearly $14 million from Bybit, a position now worth over $15 million after a small pump.

Additionally, well-known crypto trader James Wynn was spotted converting over $8,000 in referral rewards to go long on Aster and simultaneously shorting HYPE.

On-chain tracker Hyperscan shows that Wynn currently holds a $37,000 long position on ASTER through wallet 0x5078C…ce56BeDb6.

Meanwhile, the ASTER price has soared by 40%, now priced above $2.40, with a sharp breakout from its $1.20 base on Sept. 17. Since its token generation event earlier this month, ASTER has gained over 2,600%, becoming one of the fastest-rising DEX tokens in the market.

The hype has also drawn support from major influencers like MrBeast and industry insiders. Notably, Glue Net founder Ogle hinted at insider backing, claiming Aster is “CZ’s insurance plan for Binance,” predicting the protocol will evolve beyond a simple perpetuals DEX.

With whales piling in, traders rotating out of other tokens, and price action breaking key resistance, ASTER may continue to dominate headlines in the coming weeks.