The Key Takeaways
Why has Aster been accused of washing trading?
DeFiLlama founder claimed that its data was unverifiable because Aster’s dark pools hide who places or fills order.
Do whales not care about the fear mongering?
Yes. The data on the chain showed ASTER being accumulated by large buyers, while sales pressures have steadily decreased since September.
Aster [ASTER] DEX (decentralized Exchange) is accused of manipulation of the market and overstating trading volume.
Oxngmi (a pseudonym for the founder of DeFiLlama), a data aggregator, posted on X that DEX volumes were mirroring. Binance [BNB] perpetuals volume.
The following is a list of the most popular ways to get in touch with someone. added You can also find out more about us here. Ripple [XRP], Ethereum [ETH]The volume of perps on Aster DEX and Binance was closely correlated, but the divergence from Binance is suspicious. Hyperliquid [HYPE] Similar pairs.
“Aster doesn’t make it possible to get lower-level data such as who is making and filling orders, so until we can get that data to verify if there’s washtrading, Aster perp volumes will be delisted.”
Source: X
Aster, which uses dark pools for its order matching, is unable to provide data verification, as opposed to Hyperliquid, because it matches the orders off-line.
Market reactions post-DeFiLlama delisting
Aster tokens sold quickly after delisting.
On the 5th trading day of October, it fell by 10% from $2.1 (the previous high) to $1.7 ($1.8), before stabilizing at about $1.8.
TradingView, Aster/USDT
Last dump late in September was at a price range of $1.5 to $1.65 and could be a bounce if it is defended. Some of these high-ticket sellers are in fact current traders. jumped On the reduced window, grab the opportunity.
Whales Buy the Dip amid Exchange Outflows
Lookonchain reports that a major player acquired 1.69 Million Aster Tokens (worth more than $3.1M) in the weekend’s decline.
Source: Arkham
There were mixed results when examining the on-chain flow of exchange. Exchange Netflows have increased significantly since DEX’s debut last month. surged Aster tokens worth 77,000,000
The green bars indicate that there is a higher level of profit taking (green bar) when more tokens are sent to the on-chain exchange to be sold.
Source: Arkham (Aster on-chain exchange flow)
This could indicate that selling pressures are easing. It is possible that the price could rebound to $1.8, or even the $1.50 support level. This would be especially true if there are more whales who jump onto the altcoin.
The Aster team has not responded to the allegations by the date of publication.
The volume dominance of the market is a cause for concern
DEX index hit its highest level in September. trading volume Hyperliquid, with $282 billion in the same time period, had nearly doubled its volume to $420 billion. This is about half of overall DEX volumes, which are $1 trillion.
Source: The Block
Aster’s dominance is over 90%.
DEX ranks now in revenue terms second Only to Tether [USDT]In the last 30 days, earned over $210,000,000 in fees.
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Source: ambcrypto.com
