A short while ago, it was noted that some altcoins experienced very sudden declines on the cryptocurrency exchange Binance.
According to the data, the ACT/USDT pair lost more than 50% of its value in a matter of minutes. DEXE/USDT fell by 23%, while DF/USDT fell by approximately 16% in the same time frame. The declines were triggered by the execution of large-scale sell orders simultaneously in a short period of time, which caused a jump in the trading volumes of these altcoins on Binance.
According to claims that have not yet been confirmed and are only a theory, the declines may have been targeted by the decentralized cryptocurrency exchange Hyperliquid. A short while ago, unknown whales suddenly opened large short positions in a low-cap altcoin called JELLYJELLY on Hyperliquid, deliberately liquidating it and trying to inflict losses on Hyperliquid. It is claimed that Hyperliquid may have triggered the recent declines in response to this.
However, no official statement has been made by either side yet.
*This is not investment advice.
Continue Reading: Binance Experienced Very Sudden and Severe Altcoin Drops! There Is an Unusual Theory About the Reason!
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