This Altcoin Listed on Binance Dropped Big! Here's the Possible Reason for the Drop!
In recent months, some altcoins listed on Binance have experienced sudden and sharp declines and have become a hot topic in the market.
A new one has been added to these declines. In recent hours, the altcoin named Dego Finance (DEGO), listed on Binance, experienced a sudden drop of 50%.
The value of DEGO, which was listed on Binance Launchpool in 2021, fell by 50 percent in minutes.
The reason for the sharp decline is not yet known and no official statement has been made.
Previously, there were sharp and sudden declines in altcoins such as LEVER, OM, ACT and TST.
However, it was stated on social media that DEGO's support for USD1 liquidity on the BNB Chain may have been effective in this decline.
It has been claimed that adding USD1 liquidity to DEGO means allowing users to buy and sell DEGO with a stablecoin, and this could create fud by changing the liquidity.
*This is not investment advice.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
New spot margin trading pair — HOLO/USDT!
FUN drops by 32.34% within 24 hours as it faces a steep short-term downturn
- FUN plunged 32.34% in 24 hours to $0.008938, marking a 541.8% monthly loss amid prolonged bearish trends. - Technical breakdowns, elevated selling pressure, and forced liquidations highlight deteriorating market sentiment and risk-off behavior. - Analysts identify key support below $0.0080 as critical, with bearish momentum confirmed by RSI (<30) and MACD indicators. - A trend-following backtest strategy proposes short positions based on technical signals to capitalize on extended downward trajectories.
OPEN has dropped by 189.51% within 24 hours during a significant market pullback
- OPEN's price plummeted 189.51% in 24 hours to $0.8907, marking its largest intraday decline in history. - The token fell 3793.63% over 7 days, matching identical monthly and yearly declines, signaling severe bearish momentum. - Technical analysts cite broken support levels and lack of bullish catalysts as key drivers of the sustained sell-off. - Absence of stabilizing volume or reversal patterns leaves the market vulnerable to further downward pressure.
New spot margin trading pair — LINEA/USDT!
Trending news
MoreCrypto prices
More
