Why Did DefiLlama Re-List Aster's Data?

DefiLlama Re-Listed Aster

The rising decentralized exchange Aster has come to the forefront with the re-listing process by analysis platform DefiLlama. Aster's continuous data was removed from DefiLlama two weeks ago, raising concerns about wash trading. It was observed that Aster experienced a 10% price drop immediately after this development.

What is Wash Trading?

Wash trading is a misleading and artificial market activity created by an investor buying and selling the same financial instruments. In the crypto world, such practices are often used to artificially inflate perceived demand for a particular coin or token. However, this situation can mislead uninformed investors into taking action. In reality, although trading volume appears high, the same assets circulate between the same parties, and no genuine market activity takes place.

Aster's Data Re-Upload

According to recent developments, DefiLlama is re-uploading Aster's data, but this process has various limitations. One of the prominent issues is the lack of historical data records and delays in reflecting developments to the public.

0xngmi, the developer of DefiLlama, has confirmed that Aster’s data has been restored, but some deficiencies remain. 0xngmi stated that users should approach Aster-related data with caution, saying, "We are working on a solution that includes other metrics to correct this situation. However, this process may take some time."

Correlation and Reliability Issues

Analyses reveal that Aster’s trading volumes show almost perfect correlation with Binance’s perpetual trading volumes. This situation increases the likelihood that Aster’s activities may not be significantly organic. Therefore, users need to be more cautious and question the data related to Aster.

This information does not constitute investment advice.