The Aster (ASTER) cryptocurrency has been in the spotlight lately after its rapid rise in price and a flurry of developments.
In just a month, ASTER’s price has surged more than 2,300%, with momentum driven by its ecosystem expansion, community rewards programs, and a much-anticipated listing on Binance.
However, questions over trading integrity and fears of sell pressure from large unlocks continue to spark heated debate, leaving investors to weigh bullish momentum against mounting risks.
The Binance listing speculation
Binance has confirmed that it would list ASTER for spot trading, opening pairs against USDT, USDC, and TRY.
The move immediately boosted confidence in the token, which climbed 10% within an hour of the announcement.
Binance has however applied a Seed Tag to ASTER, signaling both volatility and growth potential.
For many, the listing marks a major step in the project’s bid for mainstream recognition.
Notably, the timing of the listing is crucial, coming after weeks of accusations and defenses around ASTER’s trading volumes.
With Binance now providing access to more than 120 million users worldwide, crypto market analysts expect liquidity to deepen, though the first test will be whether the token can sustain its current level above two dollars once trading goes live.
Airdrop incentives shape demand
In addition to the hype created by the Binance listing news, Aster concluded its Genesis Stage 2 rewards program on October 5, releasing 320 million tokens into circulation, representing 4 percent of the supply.
While such unlocks often weigh heavily on price as early claimants sell, the decentralized exchange has moved swiftly to launch Stage 3, dubbed “Dawn.” Notably, the next rewards program phase introduces spot trading rewards, fee refunds, and tiered multipliers designed to sustain engagement.
Early data suggest the strategy has helped. More than 14,500 new users joined the platform in just one day, helping absorb some of the new supply.
The claim window for the airdrop is set to open on October 10, with tokens available from October 14.
Analysts believe the way these tokens move on-chain will play a key role in whether ASTER can maintain its momentum or face renewed selling pressure.
Wash-trading allegations sparks controversy
ASTER’s rapid rise has not come without skepticism. On October 5, analytics platform DeFiLlama announced it would delist ASTER’s perpetual futures volume data after detecting what it described as suspicious correlations with Binance volumes.
According to the platform’s co-founder, trading activity across pairs such as XRP/USDT and ETH/USDT showed an almost perfect one-to-one pattern with Binance, raising questions about potential wash trading.
The decision has split the crypto community. Critics argue that mirrored trading volumes undermine confidence in the project, while defenders claim it reflects a deliberate migration of liquidity from Binance to ASTER’s decentralized exchange.
Notably, blockchain investigator ZachXBT has openly criticized attempts to normalize wash trading, while industry figures such as Anndy Lian argued that most projects engage in similar tactics when expanding market share.
ASTER price analysis
Despite controversy, ASTER’s price chart continues to attract attention from traders. After losing support at $1.96, the price retraced toward the 61.8% Fibonacci level around $1.79, a zone now seen as critical support. A decisive close below that mark could open the door to a deeper slide toward $1.50.
On the other hand, reclaiming $2.10 would break the descending trendline and establish the first higher high of this corrective phase, offering bulls a signal of renewed strength.
At present, the token trades around $2.04, supported by strong turnover and a relative strength index pointing toward bullish momentum without being overextended.
Market sentiment remains optimistic, but traders are mindful that volatility is likely to intensify once Binance trading officially begins and airdrop tokens enter circulation.