Binance Update Triggers 50% Decline For Solana Meme Coin ACT: Details

🚨👀 Binance Update Triggers 50% Decline For Solana Meme Coin ACT: Details

Oh, the drama! The intrigue! The utter chaos that ensues when a Binance update goes awry! 🤯 It’s enough to make one’s head spin, like a top, without a single care in the world. 🌪️

Several Altcoins on Binance Suffer Massive Corrections

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As one pundit so astutely observed, “The sudden dips were triggered by large sell orders executed in a short time frame, leading to a significant surge in spot trading volume.” Ah, yes, because nothing says “market stability” like a good old-fashioned selloff! 📉

But, of course, the blame game was in full swing, with some pointing fingers at market maker Wintermute. Ah, poor Wintermute! Always getting dragged into the fray, like a hapless participant in a game of musical chairs. 🎵

However, Wintermute CEO Evgeny Gaevoy was quick to deny any responsibility, noting that they reacted “post move.” Ah, clever chap! Always covering one’s tracks, like a master of the game of thrones. 🤴

But, I digress. The real question on everyone’s mind is: what triggered the 50% decline for Solana Meme Coin ACT? Ah, the answer, my friends, lies in the Binance update itself. It seems that the top exchange updated the margin tiers of several perpetual contracts, affecting existing positions. Oh, the humanity! 🤕

And, as if that weren’t enough, one poor ACT whale got liquidated for a whopping $3.79 million at $0.1877. Ah, the agony! The ecstasy! The sheer drama of it all! 🎭

As former FTX community manager Benson Sun so aptly put it, “Before changing the rules, Binance should have evaluated how many positions would be closed. If there are market makers with large positions, they should have notified them in advance.” Ah, sage advice, indeed! 🙏

And, in a related note, Binance CEO Changpeng Zhao downplayed the impact of a listing on prices. Ah, yes, because nothing says “market stability” like a good old-fashioned listing! 📈

What’s Next For Solana Meme Coin ACT?

Well, my friends, only time will tell. But one thing is certain: the drama will continue to unfold, like a delicious soap opera. 📺 And we, the audience, will be left to pick up the pieces and wonder what could have been. 🤔

Until next time, stay vigilant, stay informed, and above all, stay drama-filled! 🎭

2025-04-01 17:48

Several Altcoins on Binance Suffer Massive Corrections

What’s Next For Solana Meme Coin ACT?

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