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| Binance |
Several cryptocurrencies experienced a dramatic crash on Binance, the world's largest cryptocurrency exchange, with some plunging by as much as 50% in just 30 minutes.
According to reports, ACT token plummeted by 50%, DEXE by 30%, and DF by 20%. The sudden and steep decline occurred without any apparent trigger. These tokens are known to have no correlation. Despite the large sell-off at the same time, other cryptocurrencies did not experience such sharp drops.
The rapid price declines were also observed on other centralized exchanges (CEX) and decentralized exchanges (DEX), not just Binance. As a result, market analysts speculate that a malfunction of trading bots may have caused the crash.