AERGO crashes over 70% amid Binance manipulation rumours

Aergo has plunged more than 70% since its beginnings on Futures Binance, which prompted the accusations of community members who suspect market manipulation and coordinated sales could cause a sharp drop.

Aergo (Aergo) fell to an intrajournal minimum of $ 0.12 on April 17, in the afternoon in the afternoon, reducing market capitalization from $ 307 million to nearly $ 78.5 million from press time. Its daily negotiation volume increased by 88% in the last day, oscillating more than $ 1.37 billion.

The decline followed an upward trend of almost two weeks which started on April 6, during which Aergo gathered more than 1,200% to a record greater than $ 0.658 on April 16, before crashing around 75% the next day.

Aergo Price started in Tanking less than 12 hours after his list Binance Futures, which allowed the trading of the Aergo / USDT pair with a lever effect up to 15x.

Some members of the community on X have questioned the crash timingAbove all, given Binance’s recent decision to set up the Aergo spot spot pair on March 28, as part of a routine asset examination process, the Stock Exchange said at the time.

Despite the radiation, Aergo jumped 10 times in the following weeks. Then, only a few hours after Binance reintroduced the token on its long-term platform, the net sale started, feeding suspicion more of the events.

“Binance plays a dirty game again,” said Analysts of Crypto Gem Signals, criticizing Binance to intervene when there is media threshing to take advantage, and call the last decision more than it is the “greater exchange of fraud of all time”.

Aergo Futures experienced a sharp drop in pressure on the main derivative platforms, most of the positions leaning down in the midst of heavy drops in open financing rate and negative financing on almost all exchanges.

On Bybit, open interests dropped from 53% to $ 36.48 million, while Gate.io and Mexc recorded drops of more than 50% and 71%, respectively. Funding rates were deeply negative in all areas -by -3,000%, the Binance at -2,000% and Bitunix at -1.600% -indicating that traders were largely positioned for a drop in prices.

In an April 17 statement Shared on X, the Aergo team recognized the concerns concerning extreme volatility, adding that they had not been informed before the rehabilitation of the token on term contracts on the Binances.

The team would have asked Binance to reinstall Aergo on site to help minimize extreme price fluctuations, but has not received any response from the stock market so far.

“We are not there for short -term pumps – we are there to build,” concluded the post.

In the middle of this backdrop, the concerns about the distribution of Aergo’s tokens have also become to the point. Altcoin Gordon, a well -followed merchant on X, sharp More than more than half of Aergo’s offer is owned by the team, the first investors and the advisers, which according to them, increases the risk of prices focused on the initiate.

He also compared the structure of Aergo to OM, which recently over 90% On April 13, after some major token holders had transferred funds to exchanges, triggering a forced liquidation cascade and providing concerns about the centralized food risks.