- Aster reported unusually high trading volumes on its decentralised exchange for perpetual contracts.
- Lack of transparency raised concerns about possible wash trading, which is a manipulative trading practice.
- DefiLlama removed Aster‘s perpetual volume data due to insufficient verifiable information.
- Aster‘s rise followed a new airdrop campaign and backing from YZi Labs, linked to former Binance CEO Changpeng Zhao.
- Data from Aster is only available via API, making independent verification difficult compared to other exchanges.
Aster, a new player in decentralised perpetual trading, has reported extremely high daily trading volumes in recent weeks. The exchange overtook rival Hyperliquid in September, prompting scrutiny over the authenticity of its volume data.
Figures from Aster showed up to $100 billion in daily perpetual contract trades, while industry leader Hyperliquid reported $2.8 trillion in annual volume. However, over the weekend, DefiLlama removed Aster’s perpetual trading data from its platform after raising concerns about the lack of verifiable information and possible wash trading.
“Aster is reporting very, very high perp volumes — to the tune of $100 billion,” said 0xngmi, head of DefiLlama. “So it’s a bit suspicious.” Wash trading is when traders buy and sell with themselves to give a false sense of activity, which can mislead others about real demand. Most decentralised exchanges provide access to blockchain data so outsiders can check for this kind of activity.
According to 0xngmi, exchanges like GMX and Raydium allow anyone to inspect transaction data on their blockchains. In contrast, Aster does not provide the required software for node access, making independent checks impossible. Instead, Aster offers an API feed, which means users have to trust the platform’s figures without the ability to audit transactions themselves.
Aster‘s recent surge in activity has been linked to a new airdrop and support from YZi Labs, which is run by former Binance CEO Changpeng Zhao. Zhao has publicly promoted his investment in Aster, increasing its visibility.
DefiLlama’s decision to remove Aster’s data sparked both criticism and support within the industry. Some said they always doubted Aster’s numbers, while others were content accepting the reported figures. 0xngmi stated, “We don’t really have any data to back it up,” regarding claims that Aster’s volume is entirely fake, but emphasized that lack of transparency prevents proper verification.
For further details on the platforms, see Hyperliquid and Aster on DefiLlama.
The controversy highlights ongoing challenges in ensuring the accuracy of reported volumes in decentralised finance, where open verification is considered a standard for trust.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
Previous Articles:
- Nvidia CEO Reaffirms H-1B Sponsorship Amid New Visa Fee Changes
- 2025 Nobel Prize Honors Quantum Circuit Pioneers Behind Qubits
- Google DeepMind launches CodeMender AI to auto-fix software flaws
- Pompliano: Bitcoin’s Scarcity Will Keep Driving Price Higher
- Grayscale Stakes $150M in Ether After Launching ETP Staking
