Aster’s recent delisting from DeFiLlama has caused a decline in demand for its native token, ASTER.
With the DEX’s removal and rising concerns about its data accuracy, ASTER’s price performance has stagnated, indicating market uncertainty. As significant investors reduce their stakes, the altcoin may soon experience a downward trend as sentiment continues to falter.
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ASTER Faces Confidence Crisis After DeFiLlama Delisting
On October 5, the founder of the prominent decentralized finance (DeFi) analytics platform DeFiLlama, 0xngmi, revealed on X that Aster’s reported volumes seemed to align with those of Binance’s perpetuals market, raising concerns regarding the accuracy of its data.
This disclosure has led to DeFiLlama removing Aster from its listings, igniting a debate over whether Aster’s significant rise in trading volume was genuine or artificially boosted.
Since the DEX’s delisting, ASTER has struggled. The altcoin has remained stable, exhibiting a balance between buying and selling pressures as the controversy unfolds.
However, on-chain data indicates that whales have been offloading their holdings significantly, a clear signal that large investors are adopting a bearish stance. According to Nansen, whale wallets with ASTER holdings exceeding $1 million have reduced their token supply by 12% since Sunday.
This decline in whale accumulation reinforces the negative sentiment surrounding ASTER and could lead to a drop below its narrow trading range soon.
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Additionally, smart money investors have started to decrease their exposure. This suggests that major stakeholders are focused on avoiding further losses rather than accumulating. Per Nansen, this group of ASTER holders has diminished their supply by 37% since the DEX’s delisting.
The data provider classifies “smart money” as experienced investors, institutions, and high-performing traders whose on-chain activities typically indicate early market trends and strong opportunities.
Thus, this reduction in ASTER holdings may further diminish trader confidence, setting the scene for a potential price drop.
ASTER Price on the Brink — Can Bulls Defend $2.03
If bearish momentum intensifies, ASTER could fall below this support level, potentially heading toward $1.7119.
Nevertheless, if demand resurfaces in the market, ASTER might make an attempt to reach its all-time high of $2.4360.
