Aster (ASTER) has regained upward momentum, reclaiming the $2 mark after Binance confirmed it will list the token for spot trading. The announcement has provided a much-needed boost for the altcoin, which recently came under scrutiny following allegations of manipulated trading volumes on its decentralised exchange (DEX).
The listing marks a significant milestone for Aster, positioning it as a growing contender in the decentralised finance (DeFi) ecosystem. Binance officially confirmed that ASTER spot trading will begin on 6 October, with deposits already open and withdrawals to follow on 7 October. Trading will launch across three pairs: ASTER/USDT, ASTER/USDC, and ASTER/TRY under Binance’s Seed Tag programme.
While ASTER was previously part of Binance’s Alpha initiative, where users earned Alpha Points through trading activity, this will now conclude. All ASTER tokens from Alpha Accounts will be automatically transferred to users’ spot wallets within 24 hours of spot trading commencement, marking the project’s transition from the experimental phase to mainstream market access.
FUD Over Aster DEX Manipulation Sparks Turbulence
The timing of Binance’s listing announcement proved critical, as it arrived shortly after Aster faced severe FUD (Fear, Uncertainty, and Doubt) due to alleged manipulation of its DEX trading volumes.
The controversy emerged when DeFiLlama, a major on-chain analytics platform, removed Aster DEX’s data following suspicions of inflated trading volumes. Developer 0xngmi, one of DeFiLlama’s core builders, confirmed that the team was investigating “irregularities” after Aster’s reported perpetual DEX volumes appeared almost identical to those of Binance’s own derivatives platform, an unlikely coincidence.
ASTER Weighted Sentiment | Credit: Santiment
Adding to the scrutiny, on-chain investigator ZachXBT alleged that Aster’s DEX activity could be linked to wash trading, the practice of artificially inflating trading volume to mislead investors about liquidity or demand. Reports suggested that Aster DEX had registered over $96 billion in 24-hour trading volume, surpassing even some of the largest centralised exchanges, a figure many in the crypto community found implausible.
Despite these concerns, Aster DEX defended its model, explaining that its platform supports dark pool trading, allowing large, institutional orders to be executed without revealing their size publicly. Even so, transparency concerns linger, with many market participants calling for clearer volume verification to restore full confidence.
Technical Indicators Hint at a Breakout
On the technical front, ASTER’s price action has shown signs of strength since rebounding from a brief sell-off. On the 4-hour chart, ASTER trades within an ascending triangle, a bullish continuation pattern suggesting that buyers are gradually taking control.
The Chaikin Money Flow (CMF) has risen to 0.12, indicating steady capital inflows, while the price has climbed above the 20-period Exponential Moving Average (EMA), often seen as a short-term strength signal.
In addition, the Awesome Oscillator (AO), although still in negative territory, has started printing green histogram bars, hinting that bearish momentum is fading. A decisive breakout above the triangle’s upper resistance, particularly beyond $2.17, could trigger a push toward the previous all-time high near $2.44.
ASTER/USDT 2-Hour Chart | Credit: TradingView
However, if selling pressure intensifies, ASTER risks revisiting its $1.67 support zone. Bulls will need to defend this level to prevent a deeper correction and maintain the current upward trajectory.
Market Sentiment and Uptober Outlook
Interestingly, on-chain data reveals that Weighted Sentiment around ASTER remains predominantly negative, meaning that social chatter and public commentary are still bearish. Yet, the token’s price has moved higher despite this sentiment, a pattern often interpreted as “smart money accumulation”.
When prices rise against negative sentiment, it typically signals that institutional or informed investors are buying while retail participants hesitate. This divergence could set the stage for a contrarian rally, especially as the market enters the historically bullish month of “Uptober”.
Aster’s rebound also coincides with broader optimism in the altcoin sector, as traders anticipate improved liquidity and renewed momentum across mid-cap projects. If market conditions hold, ASTER could sustain its recovery and challenge new highs before the end of October.
Aster DEX Expands With VIP Trading and Market Maker Incentives
In an effort to rebuild confidence and attract professional traders, Aster DEX is launching VIP-tier trading and new incentives for liquidity providers. The upcoming programme will introduce a tiered fee structure, offering lower rates for high-volume traders based on a 14-day rolling average.
Additionally, the platform is preparing a $300,000 monthly reward pool in ASTER tokens, which will be distributed among top market makers based on their trading volumes. This move aims to enhance genuine liquidity and counter allegations of artificial activity.
The DEX has also kicked off its Season 3 of point farming, running until 9 November, with token distributions for Stage 2 participants scheduled for 10 October. Despite recent controversies, Aster continues to position itself as a competitive force within the DeFi landscape, striving for sustainable growth and institutional adoption.
ASTER Faces a Defining Moment
Aster’s journey has been turbulent from accusations of inflated DEX volumes to a high-profile Binance listing that could reshape its market narrative. The project’s ability to maintain transparency and deliver on its promises will determine whether this latest rally evolves into a sustainable breakout or fades under renewed scrutiny.
With momentum returning and Binance’s endorsement adding credibility, ASTER’s performance in “Uptober” could define its standing in the altcoin market for the months ahead. For now, investors appear cautiously optimistic, watching closely as the token attempts to turn controversy into comeback.
