The sharp sales wave in the cryptocurrency market in recent weeks has worried many investors. However, Aster (ASTER), one of the names most affected by this collapse, is showing signs of recovery. The decentralized exchange token reached $1.56, recording a 13 percent increase in the last 24 hours. Aster lost half of its value, falling from $2.30 to $1.10 in September. Events such as removal from DeFiLlama, $12 million Binance transfer and airdrop postponement had a great impact on this decline.
Airdrop Postponement and Uncertainty About the Future
Aster’s removal from DeFiLlama has brought to the fore again the issues of transparency and trust in the world of decentralized finance. The analytics platform detected suspicious similarities in Aster’s trading volumes with Binance’s data. This situation raised questions about the organic growth of the project. Some analysts argue that this incident shows that DeFi is still not fully independent from central authorities. The controversy has once again highlighted the fragile confidence in the sector, with nearly a quarter of exchanges still inflating trading volumes through “wash trading”.
The Aster team announced that they postponed the 2nd Airdrop phase, planned on October 14, to October 20. While distribution errors were cited as the reason for the delay, it was confirmed that 4 percent of the total supply would be transferred to the treasury contract in a short time. However, analysts state that the fact that more than half of the supply is allocated to future airdrops may create a risk of dilution in the market.
Technically, Aster is showing signs of recovery. While the RSI indicator rises above the neutral zone, the MACD has turned into a positive signal. A break above $1.60 may open the door to a new rise towards 1.70 and the psychological $2 levels. However, analysts warn that this move could be a temporary “dead cat bounce”.
Similar Situations
A similar debate arose last week with differences in SushiSwap’s TVL data. DeFiLlama detected inflation in SushiSwap’s locked value and temporarily delisted the project. This situation shows that the concept of “trust” is still not fully established in the decentralized finance ecosystem.
Aster’s rapid recovery shows investors’ willingness to seize short-term opportunities despite uncertainty in the crypto market. However, trust crises and airdrop uncertainties continue to pose risks to long-term sustainability. The market will have difficulty entering a permanent recovery process without confidence being established.
