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‘Anti-CZ’ Whale Sits on $100M Profits, Shorting ASTER, XRP, ETH, PEPE

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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 $3 489 24h volatility: 6.0% Market cap: $421.40 B Vol. 24h: $50.95 B , XRP XRP $2.26 24h volatility: 6.3% Market cap: $135.87 B Vol. 24h: $6.83 B , Dogecoin DOGE $0.16 24h volatility: 5.3% Market cap: $24.92 B Vol. 24h: $3.68 B , and Pepe PEPE $0.000006 24h volatility: 8.5% Market cap: $2.37 B Vol. 24h: $722.70 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.

The post ‘Anti-CZ’ Whale Sits on $100M Profits, Shorting ASTER, XRP, ETH, PEPE appeared first on Coinspeaker.

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