Aster, a rapidly rising DEX (distributed exchange) and careless, high lipid rival, faces investors’ misfortunes after analytics platform Defillama announces a move to abolish the platform’s permanent trading volume data.
In addition to the associated FUD (fear, uncertainty, doubt), Aster Airdrop’s fallout also exacerbated community members.
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Washing trade accusations and causing Rock Aster, Defilama listing
Defillama Builder 0xngmi said the team’s investigation revealed that Aster’s trading volume is beginning to mirror Vinance PARM with almost accurate accuracy. Correlations that appear across pairs like Xrusdt and Ethusdt suggest that much of the activity of Aster is non-organic and can possibly be produced by the exchange itself.
“Aster doesn’t make it impossible to get low-level data, such as who’s creating and filling the order,” says Defillama Dashboard Builder.
Builders have clarified Defillama’s strict adherence to data integrity. Based on this, the platform will remove aster pups until more transparency is increased.
This decision elicited mixed reactions. Some users have begged Defillama to keep data with warning tags. However, according to 0xngmi, doing so will affect the total PARP volume metric.
Conversely, technology experts using X (Twitter) pseudonym TechLead argued that the controversy could indeed be bullish.
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“If they actually ramp up Binance liquidity on defi, it’s a completed transaction,” they wrote.
The debate divides the community between crying manipulation and innovation advocates. Against this background, Aster prices have been soaked by more than 10%, trading at $1.86 at the time of this writing.
Meanwhile, the price drop is due to factors that have exceeded the Defilama cap, along with concerns linked to Aster’s airdrop fallout.
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No Rock Astor Airdrop Spark Sells, exacerbate price drop
Defillama’s announcement sparked panic, but Aster’s Airdrop policy was already testing investor trust.
The project confirmed that there is no lock period for Genesis Stage 2 rewards, which will begin billing on October 14th. This allows recipients to sell the token immediately.
As 4% of the total supply was unlocked at once, traders like analysts and Duo-Nines showed possible sales pressure.
Analysts say Fallout has allowed late bulls to purchase Aster at a discounted price by reducing the token price to $1. Such a drawdown would be 46% below the current price level.
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Aster’s announcement assembled the update with promotion and flexibility, highlighting “no pause” between stages, and highlighting the promising smarter reward mechanisms for Stage 3.
But for traders, “flexibility” was translated into a flood of liquidity just before the next phase of the token.
“The confidence to announce an unlocked airdrop… they’ll need to make a lot of fees so they can buy back the pressure of that selling.”
Airdrop News, in conjunction with the Wash Trading allegation, made the FUD worse because the token weekend slides reflect a sense of mistrust beyond Aster’s metric. This reflects how quickly transparency issues can surprise the Defi market.
Moving forward, Aster’s success may depend on Dex’s ability to back up volumes and visions with verifiable data.
