The market-making performance of ASTER exposes two obvious issues that deserve attention.

First, the participation of major market makers is extremely low, with virtually no capital投入. Compared to high-frequency market-making coins like SOL, ETH, ZEC, BCH, it is clear that the market depth and frequency for those popular coins are on a completely different level. ASTER's market-making behavior is essentially a tool for capital to cash out rather than genuine liquidity provision.

Second, it takes a long time to pull a single long candlestick, which on the surface looks like market-making initiation, but in reality, the high points appear very quickly. This is a typical pump-and-dump pattern—rapidly pushing up to attract follow-up buy orders, then immediately dumping and leaving. Based on specific price trend data, this pattern recurs repeatedly, indicating it is not偶然的波动 but a deliberate操控手法.

Such phenomena are especially common in low-liquidity coins. Without genuine market-making support, major players can more easily manipulate prices to achieve快速套现, and retail investors are easily fooled by these seemingly sudden price surges.