- Whale 0xFB3B withdrew 64.5 million $ASTER from Gate.io, valued at $133.7 million.
- 4.93 million $ASTER were deposited into Daniel Larimer’s Binance wallet.
- $ASTER price saw a 14.26% rise over the past week, maintaining stability around $2.04.
A movement of ASTER tokens has recently drawn attention in the crypto community. The wallet address 0xFB3B, identified as a whale, made a large-scale withdrawal of 64.5 million $ASTER from the Gate.io exchange. At the time, the transaction totaled $133.7 million, with the tokens withdrawn at an average price of $2.07 per token.
Large Withdrawal from Gate.io and Deposit into Binance Wallet of Daniel Larimer
A deeper view of Lookonchain post reveals that the whale address 0xFB3B made waves in the market by withdrawing a substantial amount of $ASTER from Gate.io. This action was completed at an average price of $2.07 per token, amounting to a total value of $133.7 million.
Source: X
The withdrawal itself stood out because of its size and the stable price at which it occurred. Despite the large quantity of tokens moved, there was no immediate noticeable price fluctuation, indicating minimal market disruption at the time.
Just hours after the initial withdrawal, the same whale address, 0xFB3B, executed a deposit of 4.93 million $ASTER into a Binance wallet. This deposit was valued at $10.18 million, based on the current price of $2.07 per token. What makes this transaction particularly noteworthy is the wallet it was sent to. The deposit was made to the Binance wallet belonging to Daniel Larimer, a well-known figure in the crypto industry.
ASTER Current Market Action and Implications of the Transaction
At the time of press, CoinMarketCap data shows that the ASTER price has experienced significant movement during the past week, with a total increase of 14.26%. Currently, it is priced at $2.04. The token had a huge rise in trend and peaked at just over $2.20 before taking a break. On October 7th, the price fell slightly but did not go below the $2.00 mark.
Source: CoinMarketCapTrading volume for the past 24 hours is $1.82 billion with a 21.11% increase. The market cap is $3.46 billion, and the circulating supply is 1.69 billion $ASTER tokens. The price action shows large fluctuations in value with relatively good performance in the market.
The participation of an important figure such as Daniel Larimer and the magnitude of the transaction make one wonder about the underlying motivation of the movement.
The fact that such a large amount of $ASTER was moved into a well-established Binance wallet could point to further strategies for the long-term or as a shift to market positioning. Despite the size of the transfer, the overall market value of $ASTER has remained relatively stable at $2.07 per token, suggesting that the whale’s activity did not lead to substantial short-term volatility in the market price.
