The decentralized finance (DeFi) analytics platform DefiLlama is removing perpetual futures volume data for the Aster decentralized exchange (DEX) due to concerns over data integrity, as stated by 0xngmi, a pseudonymous co-founder of DefiLlama.
Currently, trading volume on Aster, associated with CZ, co-founder of the Binance crypto exchange, is closely “mirroring Binance Perp volumes,” according to 0xngmi, who noted that the correlation ratio between Binance and Aster trading volumes is approximately 1. He continued:
“Aster lacks the capability to provide lower-level data, such as details on who is making and filling orders, so until we can obtain that data to check for potential wash trading, Aster perpetual volumes will be delisted.”
Cointelegraph contacted the Aster team, but did not receive a response by the time of publication.
Aster positioned itself as a competitor to Hyperliquid, a decentralized perpetual crypto futures exchange, in September and has attracted attention from the crypto community due to CZ’s connections with the platform and Hyperliquid’s popularity.
Related: Aster considers vesting schedules for token airdrop recipients
Analysts consider if Aster can surpass Hyperliquid
Open Interest on Aster surged by over 33,500% in less than a week during the week of September 24, indicating strong demand for the perpetual futures DEX and aligning its trading activity with Hyperliquid.
On September 25, daily perpetual trading volume reached an all-time high of $60 billion, as reported by DeFi analytics platform DeFiLlama.
This spike in trading volume was credited to Aster’s growth, as the platform gains recognition among traders and investors in the crypto space.
Aster’s price could potentially increase by 480%, pushing it to around $10, predicted market analyst Marcell in September. “Aster has already surpassed HYPE in daily volume and revenue,” he stated.
The Aster token is currently trading at approximately $1.83, down from a peak of over $2.30, according to CoinMarketCap.
Analysts anticipate that the Aster token could rise by as much as 35% and achieve new all-time highs in October, a month traditionally favorable for crypto prices.
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