Aster Accused of Inflating Trading Volume, Token Price Drops 10%

The decentralized exchange Aster is facing heated controversy after being accused by DefiLlama of fabricating trading volume, causing the ASTER token to plunge sharply.

Aster Accused Of Inflating Trading Volume, Token Price Drops 10%

The ASTER token price has plunged over 10% after leading analytics platform DefiLlama announced it would suspend displaying Aster’s trading data, citing allegations of wash trading — the creation of fake trading volume to inflate statistics.

On the evening of October 5, 0xngmi, the founder of DefiLlama, unexpectedly announced that the site would stop reporting Aster’s derivatives trading volume, claiming the platform showed signs of market manipulation. According to him, recent data revealed that Aster’s trading volume exhibited patterns highly correlated with Binance, with correlation ratios exceeding 1 several times — a phenomenon not observed with other exchanges such as Hyperliquid.

To ensure data transparency and accuracy, and to prevent misleading third-party services using DefiLlama’s API, 0xngmi stated that the site would temporarily suspend displaying Aster’s derivatives trading data until it could verify that the platform was not engaging in wash trading.

The DefiLlama founder emphasized that his decision was independent and impartial, noting that he holds no ASTER or HYPE positions — the tokens of the exchanges being compared.

Users Accuse Aster Of Inflating Trading Volume
Users Accuse Aster Of Inflating Trading Volume

DefiLlama’s move has divided the crypto community. Some users claim this is part of a coordinated attempt to discredit Aster, which has recently gained traction in the DeFi space. Others argue that Aster is indeed manipulating data, pointing out that its reported trading volume is 10 times higher than competitors, while its open interest remains significantly lower.

In a related development, on the morning of October 6, Aster announced the completion of Phase 2 of its trading-for-airdrop program, offering users two options:

  • Option 1: Receive the ASTER airdrop as originally planned.

  • Option 2: Get a full refund of all trading fees incurred during Phase 2.

According to Aster, the airdropped tokens from Phase 2 will be distributed on October 14. However, following DefiLlama’s decision, the ASTER token price continued to weaken, reflecting investor concerns about the project’s credibility and future.

Love

0.0/5

Love

Latest

Binance.us Accused Of Political Favoritism After Listing Trump Family’s Usd1 Token

News | Editor Choice | Policy & Regulations

Binance.US Accused of Political Favoritism After Listing Trump Family’s USD1 Token

Binance.US is facing a wave of fierce criticism after listing the Trump family’s USD1 stablecoin, just a week after Donald Trump’s controversial pardon of Changpeng Zhao — a move many see as a “political favor” between the White House and the crypto world.

Spacex Moves $31 Million In Bitcoin, What Is Elon Musk Planning

News | Bitcoin | Editor Choice

SpaceX Moves $31 Million in Bitcoin, What Is Elon Musk Planning?

SpaceX’s sudden $31 million Bitcoin transfer within just one week has sent shockwaves through the market, sparking speculation that Elon Musk may be preparing for a mysterious strategic move.

21shares Files For Hype Etf, While Bitwise’s Solana Etf Records

News | Altcoin | Editor Choice

21Shares Files for HYPE ETF, While Bitwise’s Solana ETF Records

The crypto ETF market is heating up as 21Shares and Bitwise roll out new products, signaling Wall Street’s growing interest in altcoins.

Bitcoin Eyes A Hopeful November Amid Fed Division On December Rate Cut

News | Bitcoin | Editor Choice

Bitcoin Eyes a Hopeful November Amid Fed Division on December Rate Cut

Following the Federal Reserve’s widely expected rate cut, the crypto market has yet to show signs of recovery as internal divisions over a potential December easing weigh on sentiment, making Bitcoin’s short-term outlook more cautious than ever.

Ethereum’s Key Changes After The Fusaka Upgrade

News | Altcoin | Editor Choice

Ethereum’s Key Changes After the Fusaka Upgrade

The Fusaka upgrade marks a pivotal step in Ethereum’s journey toward large-scale scalability, promising faster transaction speeds, enhanced security, and laying the foundation for the next explosive phase of the world’s leading blockchain.

Screenshot 2025 10 20 091338