The crypto market has been focused on the decentralized exchange Aster (ASTER) in recent days. With Binance's listing of Aster today, the project has become a hot topic for both investors and analysts. However, developments behind the scenes have also sparked discussions that could cast a shadow over Aster's rapid rise.
The latest developments for Aster have drawn attention.
Binance, the world's largest crypto exchange, announced that it has listed ASTER with a seed tag as of October 6th. The exchange announced that trading has opened for ASTER/USDT, ASTER/USDC, and ASTER/TRY pairs, with deposits starting this morning, and withdrawals slated for October 7th. The seed tag indicates the project's high-risk but innovative nature. Binance issued a clear warning to investors, stating, "ASTER is a new token that carries higher than normal risk and may be subject to significant price fluctuations. Users should fully understand the project and implement adequate risk management before trading."
Aster's rise is not new. The project emerged at the end of September as a competitor to the decentralized futures exchange Hyperliquid and quickly experienced remarkable growth. According to DeFiLlama data, Aster's open interest volume increased by 33,500 percent in one week, reaching record levels. Daily trading volume reached an all-time high of $60 billion on September 25th.
DefiLlama's delisting
However, this growth wasn't universally welcomed. DeFi data platform DefiLlama delisted Aster's perpetual futures data due to "data integrity concerns." One of the platform's founders, 0xngmi, stated that Aster's trading volumes correlate almost exactly with Binance futures, adding, "We can't be sure if this is organic volume or wash trading. Aster will be delisted unless it shares detailed data showing who placed orders or filled trades."
The Aster team has yet to respond to these allegations. However, community support is strong. Binance founder Changpeng Zhao (CZ) shared Aster's performance chart on his X account a few weeks ago, captioning it, "Good start, keep improving." CZ's frequent posts promoting Aster have further fueled rumors about the project's ties to Binance.
According to market data, ASTER is currently trading around $2.05. With a circulating supply of 1.65 billion units and a market capitalization of $3.35 billion, it ranks 40th in the market. Its 24-hour trading volume reached $1.38 billion, a surge of over 32%.
According to analysts, Aster's price could reach new highs in the short term, fueled by strong community interest and the momentum generated by its Binance listing. However, the longevity of this surge remains a question mark until uncertainties surrounding data transparency and allegations of "wash trading" are resolved.
