ASTER Airdrop Progress and Coinbase Listing Analysis
TL;DR
The ASTER token airdrop is progressing as planned, spot trading on Coinbase is now available, and perpetual contracts launched today. On-chain data confirms that whale have net accumulated approximately $1.17 million worth of ASTER within 5 hours, indicating strong institutional buying.
Airdrop details and unlocking progress
Overall airdrop configuration
Of ASTER's total supply of 8 billion tokens, 53.5% (4.28 billion tokens) is dedicated to airdrop rewards, making it one of the DeFi projects with the highest airdrop ratio to date.
| Airdrop phase | Quantity (ASTER) | percentage | state |
|---|---|---|---|
| TGE Instant Release | 704 million | 8.8% | Completed (September 17th) |
| linear release | 3.576 billion | 44.7% | Release within 80 months |
Recent Unlocking Events
November Unlock Status
- November 19 : 10.28 million ASTERs unlocked
- November 26 : 10.28 million ASTERs unlocked
- The current circulating supply has reached 3.567 billion ASTER
The project also distributed 197,000 ASTER tokens to 7,710 wallets as "loyalty rewards" on November 25th, in return for participants in recent trading activities.
Coinbase exchange listing progress
Launch schedule
| Product Type | Trading Pair | Launch time | state |
|---|---|---|---|
| spot trading | ASTER/USD | November 20, 2025, 17:00 UTC | ✅ Now online |
| Perpetual Contract | ASTER-PERP | November 26, 2025, 9:20 AM UTC | 🟡 Launching today |
On November 25th, Coinbase Markets officially announced the launch of perpetual contracts, providing ASTER with a complete spot and derivatives trading ecosystem.
On-chain whale accumulation analysis
Key whale activity confirmed
On-chain data shows that the whale accumulation event mentioned by users did indeed occur on November 25th:
Key case studies accumulated :
- Time window : November 25, 2025, 03:11-08:11 UTC (approximately 5 hours)
- Whale address :
0x1f661aabeca1f4be67f93ab21fabc03180d08e7d - Net capital : 9.53 million ASTER (approximately US$1.1 million at a price of $1.15)
- Funds flow : Withdrawn from Binance hot wallet, then transferred on-chain.
Overview of large-amount transfers in 24 hours
| Ranking | Transfer amount (USD) | type | Time (UTC) |
|---|---|---|---|
| 1 | $4.41 million | Whales transferred to MEXC | 11-25 11:14 |
| 2 | $3.22 million | Wallet transfer | 11-25 08:50 |
| 3 | $2.32 million | Transferred to Gate Exchange | 11-25 04:26 |
| 4 | $1.15 million | Withdraw from Binance | 11-25 12:29 |
Net Flow Analysis : 70% of large transfers were outflows from exchanges , indicating that institutional investors are withdrawing tokens to self-custodied wallets, which is generally considered a long-term bullish signal. (dune)
Concentration of Cash Holdings and Market Structure
Distribution of top cryptocurrency holders
| Ranking | Address type | Cash holdings (ASTER) | Proportion of circulation | Valuation (USD) |
|---|---|---|---|---|
| 1 | Unknown address | 3.256 billion | 40.7% | $3.74 billion |
| 2 | Unknown address | 1.411 billion | 17.6% | $1.63 billion |
| 3 | Aster Treasury | 602 million | 7.5% | $693 million |
| 4 | Unknown address | 560 million | 7.0% | $644 million |
| 5 | Binance Hot Wallet | 529 million | 6.6% | $609 million |
Concentration characteristics : The top 10 holders control about 80% of the circulating supply , showing a highly concentrated holding structure, which is conducive to price stability but also increases the risk of manipulation by large holders.
Market Sentiment and Outlook
Social media sentiment
- Bullish factors : Coinbase listing, transparent airdrop progress, whale accumulation.
- Community reaction : CZ (Binance founder)'s purchase of ASTER sparks "hodl club" craze
- Technical Analysis : Futures open interest is $481 million (-3.69% in 24 hours), and positive funding rates indicate a bullish bias.
Key risk factors
- There is a risk of selling when 80% of the holdings are concentrated in one area.
- The continued unlocking of 10.28 million ASTERs per week may put pressure on supply.
- Deleveraging trend in the derivatives market
in conclusion
The ASTER project demonstrates strong fundamental support: the large-scale airdrop plan is proceeding as scheduled, the listing of its entire product line on Coinbase is improving liquidity, and the active accumulation of on-chain whale confirms institutional confidence. Despite the risk of high concentration, current data supports a short-term bullish outlook, especially with the expected increase in trading activity following the launch of perpetual contracts.