Aster News Today: Aster's Transparency Battle: Delisting and Airdrop Spark Liquidity Fears

The native token of decentralized exchange (DEX) Aster (ASTER) has fallen approximately 20% to $1.55 following a combination of market skepticism and structural challenges, according to recent data and analyst commentary. The decline, which began in early October 2025, has been attributed to two key factors: the delisting of Aster's perpetual trading volume data by analytics platform DefiLlama and the controversial structure of its Genesis Stage 2 airdrop BeInCrypto^[1].

DefiLlama, a prominent DeFi analytics firm, removed Aster's perpetual volume metrics after identifying suspicious correlations with Binance's trading data. The platform's pseudonymous founder, 0xngmi, noted that Aster's volume patterns mirrored Binance's perp markets almost identically, raising concerns about potential wash trading Coinpedia.org^[2]. This delisting triggered immediate market panic, with ASTER's price dropping over 10% in a 24-hour period as traders questioned the DEX's transparency Bitrue.com^[3].

Compounding the issue, Aster's Stage 2 airdrop-scheduled for October 14-has introduced additional downward pressure. The airdrop, which will unlock 4% of the token supply (approximately 320 million ASTER) with no lock-up period, has been criticized for enabling immediate liquidity flooding. Analysts like Duo Nine highlighted the risk of a sell-off, suggesting the token could test $1 as holders offload newly unlocked tokens BeInCrypto^[1]. This dynamic is further exacerbated by the absence of a pause between airdrop stages, a design choice Aster's team defended as a move to prioritize "fairness and flexibility" Bitrue.com^[3].

Market participants have split on the implications of these developments. While some view the delisting as a temporary setback, others argue it reflects deeper issues with data integrity. Anndy Lian, a crypto strategist, acknowledged that wash trading is common in crypto but emphasized that Aster's lack of granular on-chain data-such as maker/filler order details-weakens its defenses against manipulation Coinpedia.org^[2]. Meanwhile, proponents like TechLead on X (Twitter) suggested the controversy could be bullish if Aster successfully on-ramped Binance liquidity to DeFi BeInCrypto^[1].

Price predictions from technical analysts vary, but bearish scenarios dominate. CoinCodex projected a 22.57% drop to $1.61 by October 10, while CoinPedia estimated a potential 23.39% decline to $1.54 within five days . These forecasts align with the token's recent volatility, which saw ASTER trade as high as $2.41 in September 2025 before retreating to $1.55 . Key support levels are currently identified at $1.95, $1.84, and $1.69, with resistance at $2.22–$2.48 .

Aster's roadmap includes a transition to a more advanced scoring system in Stage 3, which will introduce multi-dimensional activity metrics and spot trading incentives BeInCrypto^[1]. However, these updates have yet to address immediate concerns about liquidity and trust. The DEX's ability to stabilize its price will depend heavily on its response to DefiLlama's allegations and its capacity to rebuild confidence in its volume data Coingabbar.com^[4].

The airdrop's impact is also intertwined with broader market speculation about a potential Binance listing. Movements of ASTER tokens into Binance wallets and past endorsements from Binance CEO Changpeng Zhao have fueled rumors of a listing, though no official confirmation exists Bitrue.com^[3]. Large holders, or "whales," have been observed accumulating tokens ahead of the airdrop, adding to uncertainty about price direction Bitrue.com^[3].

As the October 14 airdrop date approaches, traders are closely monitoring two key events: the distribution of tokens and Aster's communication on data integrity. If the DEX can demonstrate verifiable transparency and attract new liquidity, analysts suggest a rebound may be possible. However, sustained selling pressure from unlocked tokens and lingering FUD could prolong the downturn.