Aster News Today: DeFi's Trust Crisis: Aster's Binance-Mirroring Volume Raises Red Flags

DefiLlama has removed Aster's perpetual futures trading data from its platform, citing concerns over the authenticity of the decentralized exchange's volume metrics. The analytics firm noted that Aster's trading volumes have mirrored those of Binance's centralized exchange with an approximate 1:1 correlation, raising red flags about potential wash tradingAster Price Drops as DEX Delisted by DefiLlama Over Trading …^[1]. This decision follows an investigation into pairs such as XRPUSDT and ETHUSDT, where Aster's activity closely aligned with Binance's volumes, unlike competitor Hyperliquid, which showed distinct patternsDefiLlama delisted Aster’s perpetual data after finding mirrored Binance volumes, triggering fears of wash trading and a 10% ASTER price plunge.^[2]. DefiLlama emphasized its inability to verify order-level data from Aster, a critical factor in assessing trading integrityAster, a fast-rising decentralized exchange (DEX) and emerging rival to Hyperliquid, has seen its native token drop by over 10% in the past 24 hours.^[3]. The delisting was announced just days before Aster's Phase 2 token airdrop, scheduled for October 10, 2025The delisting comes just days before Aster’s Phase 2 token airdrop scheduled for October 10.^[4].

The ASTER token price dropped 10% in the 24 hours following the delisting announcement, trading at approximately $1.83 as of October 6, down from a weekly high of $2.27The ASTER token fell 10% in the 24 hours following the announcement.^[5]. Analysts had previously forecasted a potential 35% rally in October and a 480% increase to $10Analysts had predicted the token could rally by 35% in October and potentially reach $10.^[6]. However, the integrity concerns have dampened investor confidence, with some traders speculating the token could fall to $1Analysts and traders like Duo Nine indicated the possibility of selling pressure.^[7]. Despite the price decline, large investors, including a whale identified by Arkham Intelligence, continued to accumulate ASTER tokens, depositing $3.16 million worth of the assetBlockchain analytics firm Arkham Intelligence tracked a whale wallet purchasing 1.69 million ASTER tokens.^[8]. This activity contrasts with the broader market sell-off, highlighting mixed sentiment among stakeholders.

Aster's airdrop strategy has further fueled market uncertainty. The Genesis Stage 2 airdrop, set for October 14, will unlock 4% of the total ASTER supply without a lock-up period, enabling immediate tradingGenesis Stage 2 rewards will come with no locking period.^[9]. Analysts like Duo Nine warned that this could trigger significant sell pressure, potentially driving the token's price to $1Analysts like Duo Nine warned of potential sell pressure.^[10]. The project framed the airdrop as a move toward fairness and flexibility but faced criticism for prioritizing liquidity over price stabilityThe project framed the airdrop as a move toward fairness and flexibility.^[11]. Critics argued that announcing an unlocked airdrop without verifiable data could erode trust, particularly in a market sensitive to transparency issuesOne community member quipped about the confidence in announcing an unlocked airdrop.^[12].

Community reactions to DefiLlama's decision were divided. While some users advocated for retaining Aster's data with a warning label, the platform maintained its stance that partial transparency would distort total perpetual volume metricsSome users pleaded for DefiLlama to keep the data with a warning tag.^[13]. Pseudonymous influencer TechLead, however, suggested the delisting could be bullish if Aster successfully integrated Binance's liquidity into decentralized finance (DeFi), blurring the lines between centralized and decentralized exchangesTechnology expert TechLead argued the controversy could be bullish.^[14]. This debate underscored broader tensions in the DeFi space regarding the balance between innovation and data integrity.

Aster's rapid rise as a decentralized exchange has been marked by record volumes. The platform reported $60 billion in daily perpetual trading volume on September 25, 2025, and surpassed $1 trillion in cumulative volume within two weeks of its September 17 launchAster reported $60 billion in daily perpetual trading volume on September 25.^[15]. Open interest surged over 33,500% in the week of September 24, partly driven by endorsements from Binance founder Changpeng ZhaoAster’s success was partly fueled by CZ’s endorsement.^[16]. However, the delisting and airdrop-related volatility have raised questions about the sustainability of these metrics. Market observers will closely monitor Aster's ability to address transparency concerns and maintain user trust as it navigates its next phase.