DefiLlama Bombshell Triggers Over 10% Crash for Aster Price

Fast-rising DEX (decentralized exchange) and inadvertent Hyperliquid rival, Aster, faces investor woes after analytics platform DefiLlama announced a move to delist the platform’s perpetual trading volume data.

Alongside related FUD (fear, uncertainty, and doubt), ASTER airdrop fallout has also aggravated community members.

Wash Trading Accusations Rock Aster, Provokes DefiLlama Delisting

DefiLlama builder 0xngmi said the team’s investigation revealed Aster’s trading volumes have started mirroring Binance perp volumes almost exactly. The correlation, visible across pairs like XRPUSDT and ETHUSDT, suggested that much of Aster’s activity could be non-organic, possibly generated by the exchange itself.

“Aster doesn’t make it possible to get lower-level data such as who is making and filling orders,” the DefiLlama dashboard builder noted.

The builder articulated DefiLlama’s strict adherence to data integrity. Based on this, the platform would delist Aster’s perps until transparency improved.

The decision drew mixed reactions. Some users pleaded for DefiLlama to keep the data with a warning tag. However, according to 0xngmi, doing so would affect total perp volume metrics.

Conversely, a technology expert who goes by the pseudonym TechLead on X (Twitter) argued that the controversy could actually be bullish.

“If they’ve actually on-ramped Binance liquidity into DeFi, it’s a done deal,” they wrote.

The debate has split the community, between those crying manipulation and those claiming innovation. Against this backdrop, ASTER price dipped by over 10% to trade for $1.86 as of this writing.

ASTER Price Performance. Source: BeInCrypto

Meanwhile, the price drop is attributed to factors beyond the DefiLlama delisting, with concerns also linked to ASTER airdrop fallout.

No-Lock ASTER Airdrop Sparks Sell-Off, Exacerbates Price Drop

While DefiLlama’s announcement triggered panic, Aster’s airdrop policy was already testing investor confidence.

The project confirmed that rewards for Genesis Stage 2, opening for claims on October 14, will come with no locking period. This would allow recipients to sell their tokens instantly.

With 4% of the total supply unlocked at once, analysts and traders like Duo Nine indicated the possibility of selling pressure.

According to the analyst, the fallout could allow late bulls to buy ASTER at a discount by lowering the token’s price to $1. Such a drawdown would constitute a 46% dip below current price levels.

Aster’s announcement framed the update as a push for fairness and flexibility, emphasizing “no pause” between stages and promising smarter reward mechanics in Stage 3. This includes new scoring formulas, team boosts, and spot trading incentives.

Yet to traders, “flexibility” translated into a liquidity flood just ahead of the token’s next phase.

“The confidence in announcing an unlocked airdrop…they would need to earn so much in fees to be able to buy back that sell pressure,” one community member quipped.

Combined with wash trading allegations, the airdrop news exacerbated the FUD as the token’s weekend slide reflected growing distrust, beyond Aster’s metrics. This reflects how quickly transparency issues can spook DeFi markets.

Moving forward, Aster’s success may hinge on the DEX’s ability to back up its volumes and its vision with verifiable data.

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