Crypto knowledge big DefiLlama earlier at the moment pulled Aster’s perpetuals knowledge from its monitoring web page after recognizing XRP buying and selling volumes that mirrored these on Binance virtually tick-for-tick, elevating doubts about how the latest DEX challenger was reporting exercise.
If a brand new alternate can mirror Binance volumes too carefully, it raises a query of how a lot of the demand is actual and whether or not leaderboards inform the entire story.
Earlier Monday, DefiLlama’s pseudonymous founder 0xngmi famous on X that Aster’s volumes, stating knowledge from XRP perpetuals, started shifting in near-perfect sync with Binance’s volumes.
That alleges potential wash buying and selling or knowledge manipulation, since natural decentralized order stream sometimes diverges.
“Till we will get that knowledge to confirm if there’s wash buying and selling, Aster perp volumes can be delisted,” 0xngmi wrote on X.
We have been investigating aster volumes and lately their volumes have began mirroring binance perp volumes virtually precisely
Chart on the left is XRPUSDT on aster, you may see the quantity ratio vs binance is ~1
Chart on the proper is XRP perp quantity on hyperliquid, the place there’s… pic.twitter.com/MwVD7rRyEn
— 0xngmi is hiring (@0xngmi) October 5, 2025
Like different perp DEXs, comparable to Hyperliquid, Aster lets merchants take lengthy or quick positions on crypto property with leverage, however with out going by a centralized alternate.
It lately rose to the highest of DefiLlama’s leaderboard for day by day charges and quantity throughout perp DEXs, even briefly overtaking Hyperliquid.
Aster’s ASTER is among the many hottest tokens within the crypto market in current weeks, zooming from 9 cents to over $2 in a bit of underneath three weeks, per CoinGecko knowledge. That has given early patrons returns of over 1,500%, making it among the many finest performing tokens in a number of months.
XRP and ether volumes have been main contributors to Aster’s metrics.
In a single wash buying and selling danger mannequin, Aster nonetheless confirmed a “low” rating, however the one-to-one quantity correlation with Binance raised sufficient pink flags for a delisting. Hyperliquid, against this, confirmed a looser 0.59 correlation with Binance volumes and saved its metrics regardless of a “medium” rating.
In the meantime, Binance itself listed ASTER with a “Seed Tag” earlier Monday. The timing drew consideration as a result of Aster counts Binance co-founder Changpeng “CZ” Zhao as an advisor, and Zhao has been amongst Aster’s most vocal proponents on X up to now week.
ASTER worth have been down 10% up to now 24 hours amid a common market retreat and DefiLlama’s knowledge delisting. All losses have since reversed after Binance introduced plans to listing the token.
Aster didn’t instantly reply to CoinDesk’s request for remark
