Several cryptocurrency tokens plummeted by as much as 50% during a half-hour window Tuesday (April 1) on the Binance trading platform.
As Coindesk reported, the event left market observers speculating whether a misconfigured trading bot could have caused the drops, though there was no immediate explanation.
According to the report, none of the tokens in question are related or even in the same sector. Data showed an uptick in selling volumes at around the same time, with no other tokens on Binance seeing comparable spikes.
The Coindesk report speculates that the volatility could stem from Binance’s announcement of changes in leverage requirements and margin tiers for perpetual contracts for a number of tokens, including ACT/USDT.
The exchange said the new rules would apply to existing positions, Coindesk said, which likely sparked position adjustments by trading bots, causing price volatility in perpetuals, which soon…
