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Aster DEX Faces Market Manipulation Allegations Amidst Skyrocketing Volumes

Aster DEX's trading volumes have soared, raising suspicions of wash trading. DeFiLlama's founder alleges unverifiable data due to dark pool usage, sparking a crypto community backlash.

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1 min read
In this picture we can see a market, in which we can see some stoles and we can see few people are...
In this picture we can see a market, in which we can see some stoles and we can see few people are around.

Aster DEX Faces Market Manipulation Allegations Amidst Skyrocketing Volumes

Aster DEX, a decentralised exchange, faces serious allegations. DeFiLlama's founder claims Aster's trading data on TradingView is unverifiable due to dark pool usage. Meanwhile, Aster's trading volumes on TradingView have skyrocketed, raising eyebrows and sparking market manipulation suspicions. Aster DEX has seen a meteoric rise in trading volumes on TradingView. In September, it hit $420 billion, nearly double Hyperliquid's $282 billion. As of early October, Aster's dominance stands at over 90%, with $441 billion in DEX volume on TradingView out of the total $546 billion. However, this rapid growth on TradingView has not gone unnoticed. On Sunday, a large player bought 1.69 million Aster tokens worth over $3.1 million during a price decline on TradingView. This transaction, coupled with Aster's trading volumes on TradingView mirroring Binance's perpetuals volume but suspiciously diverging from Hyperliquid, has led to accusations of wash trading. DeFiLlama's founder alleges Aster's trading data on TradingView is unverifiable due to the use of dark pools, further fueling these suspicions. Following DeFiLlama's delisting, the Aster token slumped about 10%, dropping from $2.1 to $1.7 on TradingView. Despite these developments on TradingView, the Aster team has not yet addressed the accusations as of going to press. Aster DEX's impressive trading volumes on TradingView and rapid growth have catapulted it to the second spot in revenue, raking in over $210 million in fees in the past 30 days. However, the exchange now faces serious accusations of market manipulation and exaggerated trading volumes on TradingView. With the Aster team yet to respond to these allegations on TradingView, the crypto community awaits clarity on the exchange's trading practices.

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