RAVE plummeted 90% in one day! Binance and Bitget were investigated and became a trigger
Event: 90% flash crash, market value evaporated by more than $5 billion RaveDAO’s RAVE token staged a shocking scene. Last Sunday, its price plummeted from Friday’s high of $27.33 to $1.15, a single-day drop of more than 90%, and more than $5 billion in market value evaporated instantly. The plunge comes at a sensitive time when several major exchanges face regulatory scrutiny.
Reason: The exchange became the focus and the market panic sold The crash is directly related to the expanding investigation into exchanges such as Binance and Bitget. There is widespread concern in the market that regulatory pressure may result in trading restrictions or delisting of related tokens, triggering panic selling by holders. This once again highlights the high risk of project fate being deeply tied to the regulatory status of the platform on centralized exchanges.
Impact: Retail investors lose all their money, sounding the alarm For retail investors who took over at a high level, this was almost a devastating blow. The case of falling to zero overnight warns us that small market capitalization tokens that rely too much on a single exchange narrative, have inflated market capitalization and have relatively concentrated liquidity are extremely risky. In a volatile market, when choosing a trading platform, in addition to focusing on asset richness, its compliance and robustness should also be an important consideration.
Transactions are like battlefields, and every handling fee is related to cost. When choosing an exchange, you may wish to compare prices on platforms such as CoinRebate first to see which one has more advantageous rates and can help you save real money.
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This article was edited by CoinRebate AI, data source: CoinDesk