AI Prophecy price crashes 70% in 3 days after Binance leverage shake-up

The prophecy Ai Memecoin crushed more than 70% in 3 days after the binance adjustment of leverage and margin levels for the Act / USDT pair triggered liquidations and forced sales.

The prophecy ai (ACT) continues to bleed, currently negotiating at $ 0.05, down 24% in the last 24 hours. The accident began on April 1, as part of a larger slowdown in the market which saw several altcoins in binance drop between 20 and 50% in a single day. ACT saw the highest drop, crashing almost 60% from $ 0.19 to $ 0.08 in less than an hour and its market capitalization losing $ 96 million.

In response, the ACT team spear An investigation to identify the cause of the accident. Yesterday, they poster an update attributing it to BinanceRecent changes in leverage and margin levels for several tokens, including law.

On April 1, Binance reduced The maximum lever position for ACT / USDT future $ 4.5 million and modified margin levels, announcing changes only 3 hours before implementation. Consequently, traders who occupied leverage positions on ACT were forced to reduce them, which triggered massive sales pressure. Binance investigation attributed The price of the price of four users – three VIP traders and a non -vip, was sold a full combined of more than a million dollars of Binance Spot Market act.

The incident suffered 57% of the ACT price on April 1, the only price, because the price opened at $ 0.19 and closed $ 0.08 that day. On April 2, ACT continued to bleed, losing 35% and stabilizing around $ 0.05. Its market capitalization now amounts to $ 49.5 million, down 94% since its Zenith at 890 million dollars.