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Cryptocurrency News Articles

Aster Token Under Scrutiny: DEX Integrity and Airdrop Issues Plague BNB-Based Exchange

Oct 06, 2025 at 01:18 pm

Aster Token Under Scrutiny: DEX Integrity and Airdrop Issues Plague BNB-Based Exchange

Aster, a BNB-based decentralized exchange (DEX), is currently navigating a turbulent landscape. Allegations of questionable trading volumes and DEX integrity issues, right before its Phase 2 airdrop, have placed the Aster token under intense scrutiny.

DeFiLlama Pulls the Plug: Integrity Concerns Arise

DeFi aggregator DeFiLlama recently delisted Aster's trading volume data, citing an "almost perfect correlation" between Aster's reported volumes and those of Binance. This move raises serious questions about the authenticity of the DEX's reported trading activity.

0xngmi, DeFiLlama's founder, highlighted the suspicious mirroring of trading activity, comparing XRPUSD trading on Aster with that of Hyperliquid. The findings suggested that while Aster's trading closely mirrored Binance, Hyperliquid maintained a clear decoupling.

Airdrop on the Horizon: Unfortunate Timing?

The timing of these integrity concerns couldn't be worse for Aster. As the platform prepares for its Phase 2 airdrop on October 10, this controversy casts a shadow of doubt over the entire project. Investors are understandably wary, and the ASTER token has suffered a price decline.

ASTER Price Plummets Amidst Controversy

News of DeFiLlama's delisting sent the ASTER token price tumbling, dropping 10% and breaking below the $2.0 support level. From a weekly high of $2.27 on October 4, the token has experienced a significant correction, erasing much of its recent gains.

Whale Activity Persists: A Sign of Hope?

Despite the negative press, whale activity surrounding the ASTER token remains elevated. Blockchain analytics firm Arkham Intelligence reported that a large investor, identified by the wallet address 0xfE5A, acquired 1.69 million ASTER tokens, valued at approximately $3.16 million. This significant accumulation suggests that some investors still see potential in the project.

Speculation and Potential Binance Listing

Adding another layer to this unfolding drama is the fact that Binance founder Changpeng Zhao previously praised Aster's rapid growth. Shortly after CZ's endorsement, multiple ASTER tokens were transferred to Binance spot wallets, fueling speculation about a potential listing on the exchange. Whether these transfers were part of a testing phase remains to be seen.

Final Thoughts

The Aster token's current predicament is a cautionary tale in the world of DeFi. DEX integrity is paramount, and any hint of manipulation can have severe consequences. While the whale activity offers a glimmer of hope, the project must address the concerns raised by DeFiLlama to regain the trust of the community. Only time will tell if Aster can weather this storm and emerge stronger on the other side. It's like watching a high-stakes poker game – you never know who's bluffing!

Original source:coingape

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