Prominent DeFi analytics platform Defillama has removed perpetual futures volume data for decentralized exchange Aster following irregularities in trading patterns. The decision came after platform founder 0xngmi identified concerning correlations between Aster’s perpetual futures volumes and those of centralized exchange Binance.
In a detailed technical analysis shared publicly, 0xngmi presented comparative trading charts for XRPUSDT pairs that revealed nearly identical volume patterns between the two platforms. The data demonstrated an unusually precise 1:1 volume correlation between Aster and Binance’s perpetual futures markets, diverging significantly from normal trading behavior observed across decentralized exchanges.
This abnormal volume synchronization raised red flags among Defillama’s analytics team, suggesting potential market manipulation through wash trading practices. Wash trading involves artificial transaction activity where traders simultaneously buy and sell assets to create misleading volume metrics without establishing genuine market positions.
The removal of Aster’s perpetual futures data from Defillama’s platform reflects the analytics provider’s commitment to maintaining accurate market intelligence and preventing distorted metrics within the DeFi ecosystem. This action underscores the ongoing challenges in verifying organic trading activity across decentralized financial platforms and highlights the importance of transparent volume reporting for institutional and retail participants alike.
