Main notes
- The ACT's distinctive symbol has been 80 % in the past 24 hours, along with other metal currencies on Binance.
- Traders blame Wintermute for causing this stagnation on Altcoins on Binance.
- Binance said that three dignitaries have sold permissible work combined at a value of $ 514,000, causing collapse.
The leading Binance in the Crypto exchange under the intersection in the digital asset community was exposed when the sudden price and consumption collapsed many distinctive symbols.
Leaving investors scrambled as metal currencies such as ACT, Dexe and DF, as ACT decreased approximately 57 % on April 1, then 23 % of the next day.
The event sent a shock through the encryption community, which ignited speculation about whether it was a robot malfunction, a sign of imminent deletion, or an attempt to manipulate the market.
After the acute decrease of ACT, TST and other symbols on Binance yesterday, the mask, the Lever and the other symbols, witnessed a short -term decrease and large again today. The USDT crane decreased by more than 28 % and the USDT mask decreased by more than 29 % in a short period of time. The verb declined and … pic.twitter.com/pfnh5siojx
– Wu Blockchain (Wublockchain) April 2, 2025
Altcoin's crash: What happened?
ACT was trading within a stable range for most March, but fell from $ 0.189 to $ 0.087 in just half an hour. Many other symbols followed a similar path.
The sudden drop in prices led to many traders directing their fingers in automatic trading robots. A specific theory indicates that Wintermute, a prominent company in the market industry, may have played a role in the accident.
This is not a joke April 1.
Wintermute pour the assets from their public budget as they were behaving in the name of MM. Their governor was hacked, or – I have no other explanation yet.
Some strange things happen. Act folded 2x in minutes, +-10 The assets are … pic.twitter.com/bqc3hl8kss
– Depression (@0xdepressnn) April 1, 2025
“Not FWIW.”
We are not fww, but also my curiosity about this after death
– Wishfulcynic (Evgenygaevoy) April 1, 2025
On the other hand, some analysts pointed to the last update of Binance at the leverage levels and margins of the various altcoins, including ACT.
These amendments may have caused their positions to balance their positions, which leads to collective sales and cause a reaction in the market.
Curd and influencers have asked their followers not to use Binance anymore or invest in Altcoins that are inserted on the central stock exchange, claiming that the company is addressing the market.
However, Binance Customer Support said in response to journalist Colin Wu that the accident was the result of three dignitaries who sold $ 514,000 of the symbols, along with a heterogeneous merchant who discharged $ 540,000.
Binance: The reason is that three prior VIP users worth about $ 514,000 in the immediate market in a short period of time, and that a non -VIP user transferred a large amount of action from other platforms and dispensers sold at a value of $ 540,000 in the immediate market in a short period … https://t.co/xgxbthpkl9
– Wu Blockchain (Wublockchain) April 1, 2025
The large sale pressure during a short time window can lead to a decrease in the huge prices.
Bad press for the winter team
Wintermute has been in the midst of multiple similar incidents in the past. In early 2025, the company was accused of operating sharp market fluctuations when it received more than $ 100 million from Binance between 27 and 28 January.
Wintermute was also accused of pulling liquidity from many AMMS makers, causing 60 % decreases for some symbols.
While Gaevoy denied the accusations of manipulation of the market, saying that their actions were purely linked to the trade in the argument, the encryption community is still skeptical in all events.
What the winter is doing thread
It has been exceptionally “enjoyable” on Twitter the past few days with some accounts that strike their lowest levels in terms of understanding the market structure. I have written several times in the past about what we are doing and how we prefer doing things, but it may be the right time to …
– Wishfulcynic (Evgenygaevoy) February 3, 2025
the next
Slip: Coinspeaker is committed to providing unbiased and transparent reports. This article aims to provide accurate and timely information, but it should not be considered financial or investment advice. Since market conditions can change quickly, we encourage you to check your information and consult with a professional before making any decisions based on this content.
Part, an encrypted journalist with more than 5 years of experience in this industry, with the main media in the world of encryption and financing, gathered experience and experience in space after survival in the bear markets and bull over the years. Part is also the author of the book 4 books published self.