Aster DEX has admitted to significant data discrepancies in its Epoch 3 during the Stage 2 airdrop, leading to a sharp decline in the price of its native token, ASTER. The token dropped by approximately 15-19% in a single day, falling to as low as $1.56, as traders raised concerns over inflated trading volumes and fairness in the reward system.
The Genesis program, which distributes 4% of the ASTER token supply through an airdrop, was impacted by inconsistencies in the Team Boost dashboard, affecting user reward calculations. Aster claimed a trading volume of $560 billion between September 22 and 28, but this did not match data from platforms like Dune or DefiLama, fueling allegations of manipulation and eroding trust.
Despite the price drop, technical analysis suggests a potential bullish reversal, with a falling wedge pattern indicating possible upward movement. However, the Relative Strength Index (RSI) remains below 50, signaling bearish control. Key resistance levels are at $1.6972 and $1.9814, while support is being tested around $1.50; a breakdown could push the price toward $1.30.
Notably, whale accumulation has been observed, with a wallet allegedly linked to YouTuber MrBeast purchasing over $1.53 million worth of ASTER tokens between September 26 and 29. Other large holders have also accumulated, but muted market sentiment and the data controversy have overshadowed this, triggering a sell-off. The Aster team has pledged to resolve the issues, but lack of transparency may prolong consolidation.
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