Aster News Today: DeFiLlama's Aster Delisting Exposes Trust Gaps in DeFi Metrics

DeFiLlama, a leading decentralized finance analytics platform, has delisted the perpetual futures trading volume data for Aster, a decentralized exchange (DEX) linked to former Binance CEO Changpeng "CZ" Zhao, citing concerns over data integrity and potential wash trading. The move follows an investigation revealing a near-perfect 1:1 correlation between Aster's trading volumes and those of Binance's perpetual futures markets, particularly in pairs like XRP/USDT and ETH/USDT. This pattern emerged abruptly over the weekend, raising red flags among analysts and investors.

The pseudonymous founder of DeFiLlama, 0xngmi, highlighted the lack of transparency in Aster's order book data, noting the inability to verify whether the mirrored volumes stemmed from legitimate trading activity or coordinated synthetic replication. "Until we can get lower-level data to verify if there's wash trading, Aster perpetual volumes will be delisted," 0xngmi stated. The correlation was absent on competing platforms like Hyperliquid, further intensifying scrutiny. The delisting has eroded trust in Aster's reported metrics, with the platform's native token, ASTER, dropping 6.2% in 24 hours to $1.88, extending losses of over 10% since the allegations surfaced.

Technical analysis underscores the bearish sentiment. ASTER's price has retreated from its all-time high of $2.30, breaching key support levels and signaling increased selling pressure. Analysts warn of further declines if the token falls below $1.75 or $1.50, with potential targets at $1.20–$1.30. The delisting coincides with the upcoming Phase 2 airdrop of 4% of Aster's total supply (320 million tokens), which could exacerbate selling pressure due to the no-lockup structure. Despite this, proponents argue that Aster's weekly fee revenue of over $120 million could fund buybacks to stabilize prices.

Community reactions have been mixed. While some critics accuse DeFiLlama of bias, others acknowledge the platform's commitment to data integrity. 0xngmi emphasized that the decision was not motivated by favoritism, reiterating that DeFiLlama holds no positions in Aster or Hyperliquid. Meanwhile, Aster's rapid rise as a DEX-surpassing Hyperliquid in daily fees and volume-has intensified scrutiny over its liquidity sources and operational transparency.

The incident highlights broader challenges in DeFi analytics. As traders increasingly rely on aggregated metrics, the credibility of platforms like DeFiLlama becomes critical. Analysts suggest that stricter verification protocols and transparent on-chain data disclosure could mitigate future disputes. For Aster, the delisting serves as a cautionary tale about the importance of verifiable liquidity in a sector where trust is paramount.

Source: [1] "Aster Faces Market Turbulence as DeFiLlama Delists Exchange Amid Wash Trading Allegations" (https://www.fxleaders.com/news/2025/10/06/aster-faces-market-turbulence-as-defillama-delists-exchange-amid-wash-trading-allegations)

[2] "Aster's token drops 10% after DeFiLlama head raises wash trading concerns" (https://www.theblock.co/post/373458/asters-token-drops-10-after-defillama-head-raises-wash-trading-concerns-delists-perpetuals-data)

[3] "DeFiLlama Delisting Aster Perpetual Futures Volume Data" (https://cointelegraph.com/news/defillama-delist-aster-perp-data-integrity)

[4] "DeFiLlama flags Aster for suspected wash trading and moves to delist" (https://cryptobriefing.com/aster-suspicious-volumes-defillama-delist)

[5] "Aster DEX Delisting Raises Wash Trading Fears in DeFi" (https://www.coingabbar.com/en/crypto-currency-news/aster-dex-delisting-wash-trading-controversy)