Yesterday (October 5), a bombshell was dropped on Aster Crypto, the newly launched Perp DEX platform that has taken the market by storm with a +7,000% price increase for its native token, ASTER. The YZi Labs-backed platform has also dominated TVL and trading volume metrics, quickly surpassing the competition, including Hyperliquid.
However, it is these numbers that have come under scrutiny, with the Web3 data platform DefiLlama delisting its perpetual volume metrics and the founder of DefiLlama posting a thread on X, explaining why the platform has delisted Aster.
This is a damning indictment for ASTER crypto, as DefiLlama is regarded as the gold standard for Web3 protocol metrics. ASTER has crashed by 10% to $1.87 overnight, which appears to be the beginning of the end for Binance founder CZ and his pet Perp DEX project.
DefiLlama Founder Explains Aster Perp Volume Delisting
We've been investigating aster volumes and recently their volumes have started mirroring binance perp volumes almost exactly
Chart on the left is XRPUSDT on aster, you can see the volume ratio vs binance is ~1
Chart on the right is XRP perp volume on hyperliquid, where there's… pic.twitter.com/MwVD7rRyEn
— 0xngmi is hiring (@0xngmi) October 5, 2025
DefiLlama’s pseudonymous founder, 0xngmi, raised concerns over Aster’s data in an X post on Sunday, showing evidence that Aster’s volume has begun closely mirroring that of perpetuals on Binance in recent days.
0xngmi posted charts that show a tight correlation between volumes on Aster and Binance beginning late Saturday and continuing into Sunday. The DefiLlama founder also published data showing that the exact correlation does not exist on Hyperliquid.
“Aster doesn’t make it possible to get lower-level data, such as who is making and filling orders, so until we can get that data to verify if there’s washtrading, Aster perp volumes will be delisted,” 0xngmi wrote.
In an attempt to distance themselves from the ongoing Hyperliquid and Aster culture war, 0xngmi stated they have never held any HYPE or ASTER tokens, saying, “The thing I care about is the integrity of our data.”
ASTER crypto dropped over 15% to below $1.8 when 0xngmi posted their X thread, but has since recovered and is trading for $1.87. Things aren’t looking favorable for Aster, with many notable figures in the Web3 space calling the project out and warning followers of the risks associated with holding such a shady asset.
Shoutout to @0xngmi, founder of DeFiLlama, for making the tough call to delist Aster’s volume data, prioritizing data integrity and protecting users.
I’ve been saying for a while that Aster’s volumes looked heavily manipulated and full of wash trading. Slowly but surely, their… pic.twitter.com/UCInmADCJL
— Simon Dedic (@sjdedic) October 6, 2025
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Can an ASTER Crypto Spot Binance Listing Save it From Going to Zero?
The fallout from DefiLlama’s delisting of Aster’s perp volume has forced Binance’s hand, with the world’s largest exchange announcing a spot ASTER listing in an attempt to reverse the token’s fortunes.
At a YZi Labs dinner over the weekend, a picture was taken showing an image of Aster listed as part of the BNB
BNB
3.33%
BNB
BNB
Price
$602.10
3.33% /24h
Volume in 24h
$1.97B
Price 7d
Learn more
Ecosystem, alongside Binance, BNB Smart Chain, PancakeSwap, Trust Wallet, and CoinMarketCap.
Binance will list @Aster_DEX (ASTER) with a Seed Tag applied.
More information 👉 https://t.co/kfCXUFCYPe pic.twitter.com/yNosuuNN7T
— Binance (@binance) October 6, 2025
This only confirmed what everyone already knew to be true: that Aster is controlled by the figures behind Binance, which makes it no surprise that the exchange has chosen to list ASTER crypto during a time when it is facing serious scrutiny.
The Aster listing announcement from Binance was nearly one hour ago at the time of writing, and a glimmer of positivity for ASTER bulls has seen the price spike from $1.87 to $2.05. This +10% spike has undone the damage from the DefiLlama yesterday, but whether it can be sustained is another matter.
If ASTER crypto can’t close the day above $2, it would indicate that damage has been done, and a Binance listing may not be enough to save it.
Is ASTER Crypto Going to Zero? Traders and Analysts Seem to Think So
So @Aster_DEX $ASTER just got exposed for artifically farming their own airdrop with bots and washtraders.
Their own discord members are exposing them live in their discord.
140billion volume but 550b+ RH points, it should be impossible.
They are claiming 280b points came…
— Nipple (@SuperNipple67) September 29, 2025
Traders are climbing over each other to put the nail into ASTER’s coffin, with Noodles summarizing the fud with the following post on X;
“Cloned an old DEX (Apollo), zero innovation. Masked fake volumes to inflate metrics and hype, full-on wash trading. Pushed an “anti-DeFiLlama” narrative to mislead anyone exposing the real data.
In short: Short Aster to zero. Tell me the last good thing ever built on Binance. I bet you can’t name one.
No innovative DeFi protocols, no real DEX tech, no lending protocols, no real order-book innovation….nothing.”
This sentiment from Noodles is being echoed across social media right now, meaning that YZi Labs, Binance, and CZ will need to utilize all available resources to salvage Aster Crypto’s reputation and prevent the ASTER price from plummeting to zero.
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