{"id":51243,"date":"2025-10-06T09:31:42","date_gmt":"2025-10-06T09:31:42","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=51243"},"modified":"2025-10-06T09:31:42","modified_gmt":"2025-10-06T09:31:42","slug":"xrp-volumes-on-aster-dex-mimic-those-on-binance-raising-questions-about-market-frenzy","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=51243","title":{"rendered":"XRP Volumes on Aster DEX Mimic Those on Binance, Raising Questions About Market Frenzy"},"content":{"rendered":"<div>\n<p>Crypto data giant DefiLlama earlier today pulled Aster\u2019s perpetuals data from its tracking page after spotting XRP trading volumes that mirrored those on Binance almost tick-for-tick, raising doubts about how the newest DEX challenger was reporting activity.<\/p>\n<p>If a new exchange can mirror Binance volumes too closely, it raises a question of how much of the demand is real and whether leaderboards tell the whole story.<\/p>\n<p>Earlier Monday, DefiLlama\u2019s pseudonymous founder 0xngmi <a href=\"https:\/\/x.com\/0xngmi\/status\/1974896455241629877\">noted on X<\/a> that Aster\u2019s volumes, pointing out data from XRP perpetuals, began moving in near-perfect sync with Binance\u2019s volumes.<\/p>\n<p>That alleges possible wash trading or data manipulation, since organic decentralized order flow typically diverges.<\/p>\n<p>\u201cUntil we can get that data to verify if there\u2019s wash trading, Aster perp volumes will be delisted,\u201d 0xngmi wrote on X.<\/p>\n<p>Like other perp DEXs, such as Hyperliquid, Aster lets traders take long or short positions on crypto assets with leverage, but without going through a centralized exchange.<\/p>\n<p>It recently rose to the top of DefiLlama\u2019s leaderboard for daily fees and volume across perp DEXs, even briefly overtaking Hyperliquid.<\/p>\n<p>Aster\u2019s ASTER is among the hottest tokens in the crypto market in recent weeks, zooming from 9 cents to over $2 in a little under three weeks, per <a href=\"https:\/\/www.coingecko.com\/en\/coins\/aster-2\">CoinGecko data<\/a>. That has given early buyers returns of over 1,500%, making it among the best performing tokens in several months.<\/p>\n<p>XRP and ether (ETH) volumes were major contributors to Aster\u2019s metrics.<\/p>\n<p>In one wash trading risk model, Aster still showed a \u201clow\u201d score, but the one-to-one volume correlation with Binance raised enough red flags for a delisting. Hyperliquid, by contrast, showed a looser 0.59 correlation with Binance volumes and kept its metrics despite a \u201cmedium\u201d score.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/cdn.sanity.io\/images\/s3y3vcno\/production\/96eb7ed5e517786fb0fc712b8e629a372e635ea9-1083x801.jpg?auto=format\" alt=\"(0xngmi\/X)\" title=\"(0xngmi\/X)\"><\/p>\n<p>Meanwhile, Binance itself listed ASTER with a \u201cSeed Tag\u201d earlier Monday. The timing drew attention because Aster counts Binance co-founder Changpeng \u201cCZ\u201d Zhao as an advisor, and Zhao has been among Aster\u2019s most vocal proponents on X in the past week.<\/p>\n<p>ASTER price were down 10% in the past 24 hours amid a general market retreat and DefiLlama\u2019s data delisting. All losses have since reversed after Binance announced plans to list the token.<\/p>\n<p>Aster did not immediately respond to CoinDesk&#8217;s request for comment <\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Crypto data giant DefiLlama earlier today pulled Aster\u2019s perpetuals data from its tracking page after spotting XRP trading volumes that mirrored those on Binance almost tick-for-tick, raising doubts about how the newest DEX challenger was reporting activity. If a new exchange can mirror Binance volumes too closely, it raises a question of how much of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-51243","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/51243","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=51243"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/51243\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=51243"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=51243"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=51243"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}