Aster Compensates Traders After XPL Perpetual Price Spike Triggers

ASTER DEX Perpetual Futures The disruption occurred late Thursday evening, when the price of XPL surged to over $4, despite trading at approximately $1.30 on other platforms. Crypto Journalist Amin Ayan Crypto Journalist Amin Ayan About Author Amin Ayan is a crypto journalist with over four years of experience in the industry. He has contributed to leading publications such as Cryptonews, Investing.com, 99Bitcoins, and 24/7 Wall St. He has... Author Profile Share Copied Last updated: 29 minutes ago Aster, the decentralized perpetuals exchange backed by YZi Labs, known for its ties to Binance founder Changpeng Zhao, has reimbursed traders who suffered losses following an abnormal price spike in its XPL perpetual contract. Key Takeaways: Aster swiftly reimbursed traders in USDT after an XPL price glitch triggered forced liquidations. The spike was likely caused by a transition error during the shift from pre-launch to live trading. Despite the incident, Aster’s market presence continues to grow, recently surpassing Hyperliquid in daily volume. The disruption occurred late Thursday evening, when the price of XPL surged to over $4, despite trading at approximately $1.30 on other platforms. In a statement posted to X, Aster acknowledged the issue and reassured users that “all funds are SAFU,” pledging a full investigation and compensation for affected traders. Aster Begins Rapid USDT Reimbursements After XPL Price Glitch. Within an hour, the exchange confirmed the incident was resolved and began reimbursing liquidated users in USDT. The initial round of reimbursements was completed within three hours, followed by compensation for trading and liquidation fees. According to community speculation, the issue may have stemmed from an internal oversight during the shift from pre-launch to live trading for XPL contracts. Some users suggested Aster had previously hardcoded the index price at $1 and capped the mark price during testing. When those controls were lifted without syncing to the live market, a sharp price jump triggered forced liquidations. Aster has not officially confirmed the cause but stated it is continuing to investigate. The value of the compensated losses remains undisclosed, though estimates from traders suggest the liquidations ran into the millions. The XPL listing came just hours after the mainnet launch of Plasma, a stablecoin-focused Layer 1 blockchain. Plasma debuted with more than $2 billion in total value locked in stablecoins, immediately placing it among the top 10 blockchains by stablecoin liquidity. XPL, its native token, quickly reached a fully diluted valuation above $12 billion. The incident comes during a surge in Aster’s market presence. Since launching its ASTER token on September 17, the platform’s valuation soared from $560 million to over $15 billion. Aster has recently overtaken rival Hyperliquid in daily perpetuals volume and is expected to close the month with record-breaking figures. Aster’s unique “hidden orders” feature, allowing users to place invisible limit orders, has helped it differentiate in the crowded perp DEX landscape, where transparency is typically the norm. Aster Fuels Perp DEX Boom with $70B Record Volume. Perpetual trading volumes on decentralized exchanges hit a record high of $70 billion on Thursday, marking the third consecutive day of volume growth. Aster, a new derivatives platform on BNB Chain, led the... https://cryptonews.com/news/aster-compensates-traders-after-xpl-perpetual-price-spike-triggers-losses/ #crypto #bitcoin #ethereum #cryptocurrency #news #blockchain #litecoin #cryptonews #cryptonewstoday #cryptoworld #cryptonewstoday ***NOT FINANCIAL, LEGAL, OR TAX ADVICE! JUST OPINION! I AM NOT AN EXPERT! I DO NOT GUARANTEE A PARTICULAR OUTCOME I HAVE NO INSIDE KNOWLEDGE! YOU NEED TO DO YOUR OWN RESEARCH AND MAKE YOUR OWN DECISIONS! THIS IS JUST ENTERTAINMENT! This information is what was found publicly on the internet. This information could’ve been doctored or misrepresented by the internet. All information is meant for public awareness and is public domain. This information is not intended to slander harm or defame any of the actors involved but to show what was said through their social media accounts. Please take this information and do your own research. bitcoin, blockchain, crypto, cryptocurrency, altcoin, investment, ethereum, bitcoin crash, xrp, cardano, ripple