Aster News Today: DeFiLlama's Aster Delisting Sparks Debate: Wash Trading or Legitimate Liquidity?

DeFiLlama has removed perpetual futures volume data for Aster, a decentralized exchange (DEX), following concerns over data integrity. The analytics platform cited a near-perfect 1:1 correlation between Aster's trading volumes and those of Binance, particularly in pairs like XRP/USDT and ETH/USDT, as evidence of potential wash trading. Co-founder 0xngmi announced the delisting on October 5, 2025, stating that Aster's lack of access to granular order-level data-such as maker and taker information-prevented verification of trading authenticity. This decision aims to preserve the reliability of DeFiLlama's metrics, which are critical for user-driven investment decisionsDeFiLlama to Delist Aster Volume Data Over Suspected Wash Trading^[1].

The delisting has sparked a polarized response within the crypto community. Critics, including blockchain investigator ZachXBT, argue that normalizing wash trading undermines industry credibility, while defenders attribute the correlation to legitimate liquidity migration from Binance. Anndy Lian, a prominent industry figure, noted that many projects exhibit trading patterns aligned with Bitcoin and that aggressive market-share strategies are common in decentralized finance (DeFi). However, Lian's own post history showed minimal engagement with competing projects like Hyperliquid, raising questions about potential biasAster's Token Drops 10% After DeFiLlama Head Raises Wash Trading Concerns^[2]. Supporters of Aster, including traders on social media, claim Binance's on-chain liquidity transfer to the platform explains the synchronized volumesDeFiLlama Removes Aster Perpetual Data Over Suspicious Wash Trading Concerns^[3].

Aster's token, ASTER, fell over 10% following the delisting, according to multiple sourcesAster Crypto Price Drops Over 10% as DeFiLlama Delisting Sparks Wash Trading Concerns^[4]. The move coincided with the platform's Genesis Stage 2 airdrop, which unlocks 4% of its total token supply without vesting periods. Analysts warned that the airdrop could exacerbate sell pressure, with some predicting the token might test the $1 level before stabilizing. Aster's recent 30-day trading volume had reached $493.61 billion, capturing nearly 50% of the perpetual DEX market share before the delistingDeFiLlama Delists Aster DEX Perpetual Futures^[5].

The controversy highlights broader challenges in DeFi data transparency. DeFiLlama emphasized that its role is to aggregate protocol-reported data, and it cannot independently verify execution details. Dune Analytics, which visualized Aster's metrics, clarified that its dashboards rely on DeFiLlama's API, underscoring the dependency on third-party data sourcesAster Price Drops as DEX Delisted by DeFiLlama Over Trading Volume Concerns^[6]. The platform's decision to delist Aster's data reflects a commitment to maintaining user trust amid rapid market growth and evolving standards for decentralized trading platforms.

Looking ahead, Aster faces pressure to address transparency concerns and rebuild credibility. The project's planned airdrop and Binance's upcoming listing of ASTER could influence its trajectory, but the delisting underscores the importance of verifiable data in DeFi. As the sector matures, platforms like Aster and Hyperliquid-currently holding 70% of perpetual DEX market share-will need to balance innovation with accountability to sustain long-term user confidenceAster vs Hyperliquid: Binance Chain DEX Perps Volume Derails the Competition^[7].