DeFiLlama, the decentralized finance analytics platform, has announced that it will delist perpetual futures trading volume data for the Aster decentralized exchange (DEX) due to serious concerns about data integrity.
Binance Correlation Raises Red Flags
According to DeFiLlama co-founder 0xngmi, Aster’s perpetual trading volumes have shown an almost perfect correlation with Binance’s perpetual contract volumes. The correlation ratio is reportedly “about 1,” suggesting Aster’s reported activity may be mirroring Binance’s data rather than representing genuine on-chain trading.
“Aster doesn’t make it possible to access lower-level data — such as who is making or filling orders,” 0xngmi stated on X (formerly Twitter). “Until we can verify whether wash trading is occurring, Aster’s perpetual volume data will be delisted.”
Cointelegraph reached out to Aster for clarification, but the team did not respond by the time of publication.
Rapid Rise and Community Attention
Launched in September 2025, Aster quickly emerged as a competitor to Hyperliquid, another decentralized perpetuals exchange. The DEX gained popularity largely due to its rumored ties to Changpeng Zhao (CZ), co-founder of Binance.
During the week of September 24, open interest on Aster surged by over 33,500%, while daily perpetual trading volume soared to an all-time high of $60 billion, according to DeFiLlama data. This sudden growth helped Aster surpass Hyperliquid in both daily volume and revenue metrics.
Token Performance and Market Outlook
The Aster token is currently trading at around $1.83, down from its all-time high of $2.30, according to CoinMarketCap. Market analyst Marcell projected in September that Aster’s token price could increase by up to 480%, potentially reaching $10, assuming organic demand continues.
Despite the recent delisting of volume data, some analysts believe Aster could still rally by 35% in October — historically a bullish month for crypto markets.
Integrity Questions in DeFi Analytics
DeFiLlama’s decision underscores growing concerns over data manipulation and transparency in decentralized exchanges. By removing Aster’s perpetuals data, DeFiLlama aims to maintain data credibility across its platform, ensuring that reported metrics accurately reflect on-chain trading behavior.
The move also reflects broader industry challenges in verifying DEX trading volumes, especially as on-chain analytics tools struggle to differentiate legitimate user activity from wash trading or mirrored centralized exchange data.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are volatile and risky. Always conduct your research before making any investment decisions.
