Summary
- The DAI Prophecy (ACT) team announced that they are actively investigating the price drop incident on Binance.
- The reasons for the up to 53% drop of ACT on Binance include market maker sell-offs and adjustments to perpetual futures leverage ratios.
- Currently, ACT is trading at $0.0973 on the Binance USDT market, down 48.65% from 24 hours ago.
The DAI Prophecy (ACT) team has promised a thorough investigation into the price drop incident on Binance.
On the 1st (local time), ACT stated through its official X that "We are fully aware of the current situation" and "We are conducting a thorough investigation in collaboration with all parties involved to resolve this issue." They also mentioned that "A response plan is being developed" and promised to provide further updates as quickly as possible.
Meanwhile, ACT has experienced a drop of up to 53% on Binance. Although the exact cause is unknown, potential candidates include market maker sell-offs or adjustments to Binance's perpetual futures leverage ratios.
As of 10:13 PM, ACT is trading at $0.0973 on the Binance USDT market, down 48.65% from 24 hours ago.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit![[Market] Bitcoin breaks below $68,000 as losses deepen](https://media.bloomingbit.io/PROD/news/3a08fe32-6a33-4a62-bb89-4afb5c5399ca.webp?w=250)
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