DefiLlama, a platform for decentralized finance (DeFi) analytics, is removing data on perpetual futures volume for the Aster decentralized exchange (DEX) due to concerns over data integrity, as noted by 0xngmi, a co-founder of DeFiLlama.
Aster, associated with Binance co-founder CZ, is now “mirroring Binance Perp volumes almost exactly,” 0xngmi explained, mentioning a correlation ratio of about 1 between Binance and Aster trading volumes. He further stated:
“Aster doesn’t allow access to lower-level data, such as details on who is making and filling orders, so until we can obtain that data to verify potential wash trading, Aster perpetual volumes will be removed.”
Cointelegraph contacted the Aster team, but did not receive a response by the publication deadline.
Launched in September, Aster is emerging as a competitor to Hyperliquid, a decentralized perpetual crypto futures exchange, gaining traction in the crypto community due to CZ’s affiliation with the platform and Hyperliquid’s popularity.
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Analysts consider Aster’s potential to surpass Hyperliquid
Aster’s Open Interest saw an increase of over 33,500% within less than a week during the week of September 24, indicating considerable demand for the perpetual futures DEX and aligning its trading activity with Hyperliquid.
On September 25, daily perpetual trading volume reached a record high of $60 billion, as reported by DeFi analytics platform DeFiLlama.
The increase in trading volume was attributed to Aster’s rapid growth, drawing interest from both traders and investors in the crypto sector.
Aster’s price is projected to increase by 480%, potentially reaching around $10, as market analyst Marcell predicted in September. “Aster has already outperformed HYPE in daily volume and daily revenue,” he mentioned.
The Aster token is trading at approximately $1.83 at the time of writing, having decreased from its all-time high of over $2.30, according to CoinMarketCap.
Analysts predict Aster’s token could surge by up to 35% and reach new all-time highs in October, typically a favorable month for crypto prices.
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