Aster’s native token, ASTER, has reclaimed the crucial $2 level, recovering swiftly from recent FUD and technical setbacks. The rebound comes as Binance confirmed the listing of ASTER for spot trading, scheduled to begin on October 6.
The announcement marks a significant milestone for the project, arriving just a day after concerns over alleged manipulation of Aster DEX trading volumes rattled investors. Despite this turbulence, the token surged from a local low of $1.82 to over $2.02, with traders now eyeing a potential breakout rally during the crypto market’s so-called “Uptober” period.
Following the news, Binance revealed that ASTER will launch with a seed tag, allowing trading pairs in ASTER/USDT, ASTER/USDC and ASTER/TRY. Deposits opened ahead of the listing, with withdrawals set to begin from October 7. Initially, only simple orders will be accepted, with trading bots and copy-trading features enabled after 24 hours.
From FUD to Recovery: Aster’s DEX Controversy
Aster’s rally follows a period of heightened controversy. Earlier in the week, DeFiLlama, a leading on-chain analytics platform, removed Aster DEX from its trading volume dashboard after detecting irregularities. The DEX had reported an astonishing $96 billion in 24-hour volume, surpassing even large centralised exchanges – an anomaly that raised suspicions of wash trading.
DeFiLlama’s core developer, 0xngmi, stated that the platform was investigating the issue, noting that Aster’s reported perpetual trading volume closely mirrored Binance’s, an unlikely coincidence. On-chain investigator ZachXBT also weighed in, alleging potential manipulation in Aster’s trading activity.
This scrutiny triggered a temporary sell-off, dragging ASTER’s price below $1.90 before the Binance listing news reignited bullish sentiment.
Despite the cloud of uncertainty, the listing announcement effectively reset market confidence, suggesting that Binance’s due diligence process may have helped validate the project’s legitimacy.
Technical Indicators Signal Renewed Strength
On the charts, ASTER is showing strong technical recovery. The 4-hour timeframe reveals an ascending triangle pattern, a bullish formation that typically precedes upward breakouts. The Chaikin Money Flow (CMF) indicator has climbed to 0.12, signalling sustained capital inflows, while the token has also reclaimed its 20-period Exponential Moving Average (EMA), a short-term indicator of momentum strength.
The Awesome Oscillator (AO) remains in slightly negative territory, but the appearance of green histogram bars suggests weakening bearish momentum and the beginning of a bullish shift.
If ASTER can sustain its upward trajectory, analysts anticipate a breakout above the $2.17 resistance level, which could open the door to a new all-time high near $2.44. Conversely, a drop below the $1.67 support zone would invalidate this bullish outlook, potentially leading to further corrections.
Interestingly, on-chain data shows that weighted sentiment remains negative, meaning most social media discussions around ASTER are still bearish. However, the price has continued to rise despite the pessimism, a classic sign of contrarian accumulation, where sophisticated investors quietly buy while retail sentiment remains low.
Aster DEX Evolves with VIP Trading and Market Maker Incentives
Amid the controversies, Aster DEX continues to expand its ecosystem. The platform has announced a VIP-tier trading programme designed to reward high-volume traders with lower fees, based on a 14-day rolling volume calculation. Market makers will also receive special fee rates and access to a $300,000 monthly reward pool in ASTER tokens, distributed according to their trading volumes.
The DEX recently concluded its second season of point farming, with Season 3 already underway and set to run until November 9. Participants from Stage 2 are expected to receive their token rewards starting October 10.
Although Aster DEX was excluded from DeFiLlama’s volume metrics, it reportedly generated some of the highest fees among DEX platforms in September, indicating substantial user activity despite questions around the nature of its volumes. The platform’s focus on dark pool functionality for institutional traders suggests it aims to position itself as a liquidity hub for large-scale orders, differentiating itself from conventional DeFi exchanges.
What Lies Ahead for ASTER
With the Binance spot listing now confirmed, Aster finds itself at a pivotal point. The transition from Binance Alpha, where ASTER previously earned Alpha Points for trading, to a mainstream spot listing represents both a test and an opportunity. Binance has already begun transferring ASTER tokens from Alpha Accounts into users’ spot wallets, officially ending its Alpha phase.
The market will now determine whether the project can sustain its growth without the incentive-driven Alpha ecosystem. If buying momentum continues through October, ASTER could emerge as one of the month’s standout altcoins.
However, continued scrutiny over DEX volume transparency could weigh on sentiment if not addressed promptly. For now, the combination of improved liquidity, Binance’s validation and Uptober optimism places Aster in a strong position to regain market trust and potentially establish new price highs in the coming weeks.
