Crypto Tokens Face Sharp Declines on Binance Amid Bot Issues
A significant drop in value for several crypto tokens occurred within a short period, raising concerns of a trading bot malfunction.
Multiple cryptocurrencies experienced sharp declines on Binance, with some tokens dropping as much as 50% within 30 minutes.
Notable Declines
- Act I, the Prophecy (ACT) slumped 50%.
- DeXe (DEXE) dropped 30%.
- dForce (DF) fell nearly 20%.
Data suggests this slump has no immediate explanation, stirring speculation regarding a misconfigured trading bot as a potential cause.
Additionally, a significant liquidation of longs on ACT tracked futures across exchanges was reported, amounting to approximately $6.28 million.
Around 18:30, multiple altcoins on Binance experienced sharp declines… ACT/USDT dropped over 49% within 30 minutes. — Wu Blockchain (@WuBlockchain) April 1, 2025
- The market volatility was likely exacerbated by Binance’s announcement affecting leverage and margin contract terms.
Analysts are continuing to speculate whether these drastic market movements were connected to the aforementioned trading bot issues or if they were prompted by other market dynamics.
