- Aster is recovering after a sharp market crash, regaining key price levels.
- However, removal from DeFiLlama raised trust concerns across the DeFi community.
- An upcoming token unlock and a delayed airdrop add fresh risks of volatility.
After suffering one of its steepest declines to date, the cryptocurrency Aster (ASTER) is showing signs of life again.
The decentralized exchange token has risen more than 13% in the past 24 hours, bouncing back from a deep sell-off that wiped out over half of its market value earlier this month.
The rebound follows a chaotic week across the crypto market when more than USD 20 billion in leveraged positions were liquidated in a single day, one of the largest one-day drawdowns in the history of digital assets.
Aster, which gained attention after the APX rebrand, was hit especially hard, falling nearly 52% from September highs near $2.30 to a low of $1.10.
The crash came after a string of damaging events, including its sudden delisting from DeFiLlama, a $12 million token transfer to Binance, and a delay to its long-awaited Stage 2 airdrop.
DeFiLlama delisting raises deeper questions
The removal of Aster from DeFiLlama last week was more than a routine data correction. It reignited a broader debate about transparency and trust in decentralized finance (DeFi).
The analytics platform flagged Aster’s reported volumes for suspicious similarities with Binance’s perpetual market data, implying that exchange activity might not have been fully organic.
For a project that climbed quickly into the top ranks of DEX listings, being delisted was a major credibility setback.
The controversy highlighted a deeper problem within DeFi: how much the ecosystem depends on centralized gatekeepers to determine what counts as legitimate data.
Analysts note that roughly a quarter of exchanges still show signs of inflated activity, whether through wash trading or automated self-trading.
When DeFiLlama pulled Aster’s data, some observers accused the aggregator of acting like a centralized authority. Others defended the decision as necessary to protect the integrity of market data. The episode underscored that even in a transparency-focused space, trust remains the weakest link.
Delayed airdrop and token unlocks weigh on outlook
Adding to the uncertainty is Aster’s postponed Stage 2 airdrop, which the team pushed back from October 14 to October 20 after reports of allocation discrepancies.
Developers have confirmed that 4% of the token supply will soon move from the Airdrop Reserve into the project’s treasury contract in preparation for the unlock.
Heads up, community.
We’re moving funds on-chain to prepare for the upcoming Stage 2 $ASTER airdrop claim.
A total of 4% of $ASTER tokens will be transferred from the Airdrop Reserve to the Aster DEX Treasury contract.These are official transactions conducted by the team.…
— Aster (@Aster_DEX) October 13, 2025
While the delay temporarily eased selling pressure, it also raised concerns about future dilution. More than half of Aster’s total supply is still earmarked for upcoming airdrops and distributions, and unclear vesting terms could trigger volatility once those tokens begin circulating.
Bulls return, but resistance looms
Despite these headwinds, Aster’s price has staged a sharp recovery, trading near $1.56 after reclaiming the $1.50 support level.
Technical indicators point to improving sentiment: the Relative Strength Index (RSI) has climbed above the neutral 50 mark and the MACD has turned positive, signaling renewed buying pressure.
A clean break above $1.60 could open the path to $1.70 and potentially the psychological $2.00 level if momentum holds.
On-chain metrics also back the bullish shift. Aster’s total value locked (TVL) has ticked up to roughly USD 2.16 billion, indicating that liquidity is slowly returning to the protocol.
The modest TVL increase suggests users are regaining confidence after last week’s panic.
Still, analysts warn the move could resemble a typical “dead cat bounce” following heavy liquidations.
$ASTER this might be unpopular, but there’s a valid case to be made that despite the liquidation, Aster’s still forming another lower high while bulls try to regain momentum.
The rejection around $1.53 lines up pretty nicely with both the top of the descending channel and the… pic.twitter.com/FAztwhn2Pl
— Ardi (@AltcoinArdi) October 13, 2025
If bullish momentum fades, the price could retrace toward $1.25 or even $0.97.