$ASTER now 0.60u, ground it for a week and it’s still in the same place; they shouted about it pretty loudly though.
The square has been lively these past few days: whales opening leverage long positions, some people locking and pledging, and even talk about buybacks. One piece of good news after another, yet the price doesn’t move at all. I’ve seen this kind of play eight hundred times—when the good news is blared, there’s no follow-through.
Look closer when you separate the money. Spot has seen a net outflow over the past three hours: none of the twelve pillars is positive, and big orders are also running. The active buy/sell order flow is one-sided—sell orders are thicker than buys. That 0.6 level is held up entirely by that thin layer of buy-side.
Open interest is stacked up pretty high; the longs are packed into a tight knot. Yet funding fees don’t dare to rise—those long positions just sit there with no one to carry the sedan. With this kind of grinding, the worst-case scenario is that one day liquidity gets drained.
And there’s another layer: only 35% of the supply is circulating; the remaining 60%+ of the chips haven’t been released yet. At this price—down more than 70% from the high point—everything above is stuck with people who haven’t gotten out. Push it up one step and someone will run.
I won’t chase at this level. It’s not a curse. The point is, the buy side can’t support the story right now. Wait for the funds to give a clear answer first. If you trust the square’s whole spiel, the money is gone.
#aster $ASTER
The square has been lively these past few days: whales opening leverage long positions, some people locking and pledging, and even talk about buybacks. One piece of good news after another, yet the price doesn’t move at all. I’ve seen this kind of play eight hundred times—when the good news is blared, there’s no follow-through.
Look closer when you separate the money. Spot has seen a net outflow over the past three hours: none of the twelve pillars is positive, and big orders are also running. The active buy/sell order flow is one-sided—sell orders are thicker than buys. That 0.6 level is held up entirely by that thin layer of buy-side.
Open interest is stacked up pretty high; the longs are packed into a tight knot. Yet funding fees don’t dare to rise—those long positions just sit there with no one to carry the sedan. With this kind of grinding, the worst-case scenario is that one day liquidity gets drained.
And there’s another layer: only 35% of the supply is circulating; the remaining 60%+ of the chips haven’t been released yet. At this price—down more than 70% from the high point—everything above is stuck with people who haven’t gotten out. Push it up one step and someone will run.
I won’t chase at this level. It’s not a curse. The point is, the buy side can’t support the story right now. Wait for the funds to give a clear answer first. If you trust the square’s whole spiel, the money is gone.
#aster $ASTER