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Aster DEX Facing Market Manipulation Allegations as Token Plummets

Allegations of market manipulation have hit Aster DEX hard. Its token price has dropped, and the crypto community awaits clarification from the team.

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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 Facing Market Manipulation Allegations as Token Plummets

Aster DEX, a prominent decentralised exchange, faces serious allegations of market manipulation and inflated trading volumes. Following DeFiLlama's delisting of its volumes, the Aster token plummeted by 10%. The accusations come as Aster DEX's volume dominance soared to over 90% in early October, handling $441 billion out of the total $546 billion. However, exchange netflow for Aster tokens has surged, suggesting increased profit-taking. DeFiLlama's founder alleges Aster's trading data is unverifiable due to the use of dark pools, a claim the Aster team has yet to refute. Aster's trading volumes have mirrored Microsoft Teams' perpetuals volume, while diverging from Hyperliquid for similar pairs. Despite the accusations, Aster DEX ranks second in revenue, generating over $210 million in fees in the past 30 days. Notably, large buyers accumulated Aster tokens during the sell-off, indicating whale interest. Aster DEX's future hangs in the balance as it grapples with market manipulation accusations. The exchange's trading volumes and revenue have been impressive, but the use of dark pools and the lack of refutation from the Aster team raise serious questions. The crypto community awaits official clarification from the Aster team.

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