ACT Memecoin Crashes 50% As Several Altcoins Suddenly Tank On Binance Whats Going On?

On Tuesday morning, several altcoins nosedived up to 50% on global crypto exchange Binance, sparking confusion among investors. Several community members shared theories for the incident, speculating that recent adjustments in the exchanges position limits could be responsible. Related Reading: Is Bitcoin (BTC) Poised For A Q2 Recovery? Analyst Points To 2017 Similarities Altcoins See Q2 Opening Crash On Binance Multiple altcoins saw a peculiar start to Q2 after their price tanked on Binance on Tuesday morning. The crypto community raised the alarm after Solana-based memecoin and AI Agent token Act I: The AI Prophecy (ACT) plunged around 50% in less than an hour. The cryptocurrency, which once had a market capitalization of $722 million, has moved sideways for most of March, hovering between the $0.18-$0.19 price range until today. In 30 minutes, ACT crashed from the $0.189 mark to the $0.087 level, registering a 53% fall. Similarly, the DEXE, KAVA, DF, HIPPO, BANANAS31, LUMIA, TST, and QUICK tokens also recorded a sudden price drop, losing between 10% and 35% of their value in an hour. ACTs team acknowledged the incident, stating, Dear ACT community, we want to assure you that we’re fully aware of the current situation. Our team is actively investigating and working collaboratively with all relevant parties to address this matter. The post also noted they had begun developing a response plan alongside their trusted partners. Analyst Altcoin Sherpa suggested that a price bounce for ACT seems likely but noted that ppl might realize that they dont really want to hold this coin and view this as a forced rebalance event. Nobody buying. Nobody selling. No April Fools Joke As Binance posted about a different April Fools joke, investors started to speculate what caused the sudden bleeding, with some joking that the prank had gone too far. The crypto community guessed that Wintermute was responsible for the Altcoin massacre, as it reportedly liquidated several of its positions today. Nonetheless, the trading firms CEO, Evgeny Gaevoy, denied the rumors, stating, Not us fwiw, but also curious about that postmortem. Meanwhile, Lookonchain suggested that Binances recent update of its leverage and margin tiers on several altcoins, including ACT, could have been the reason for the token crash. Six hours later, Binance Customer Support replied to Wu Blockchains report, revealing that the reason for the dump was that three VIP users cross-sold tokens worth 514,000 USDT in the spot market and a non-VIP user transferred a large amount of ACT from other platforms and sold 540,000 USDT worth of the token in a short period. As a result, the cryptocurrencys price dropped, which led some users to close their futures contracts, triggering the decline of other altcoins. The crypto exchange pointed out that they recently took the initiative to take preventive measures to adjust leverage multiples downward. Related Reading: Crypto Analyst Calls Dogecoin Chart A Beauty As Key Indicators Align Binance Contracts has recently issued consecutive adjustment announcements for the ACTUSDT perpetual contract, during which there was no market movement and no active reduction of any user’s position, the post detailed. Binance added that it will continue to investigate the incident and update the relevant details if there is any news, concluding that the crypto market has been volatile recently and asking investors to exercise caution. Featured Image from Unsplash.com, Chart from TradingView.com

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Moo Deng Crypto Climbs 70% On News Of Buterins Baby Hippo Adoption

Crypto and animal welfare have never been more interconnected, using blockchain to fund and promote animal rights initiatives around the globe. At Thailand’s Khao Kheow Open Zoo, Ethereum co-founder Vitalik Buterin made headlines when he adopted Moo Deng, a juvenile pygmy hippopotamus. A $10 million Thai Baht ($290,000) donation to the zoo’s conservation efforts is part of this heartwarming gesture. Related Reading: Can Dogecoin Hit $4? Expert Sets Prediction For Breakout Timing News of the adoption raised MOODENG token values over 70%, suggesting growing interest in meme coins. Following the news, trading volume surged by 380%, implying that fresh investors jumped in to join the thrill around this special digital asset. Source: CoinMarketCap MOODENG Crypto Price Shoots Up The price of MOODENG rapidly increased from approximately $0.0001228 to $0.0002417 within a matter of hours, illustrating the rapidity with which market sentiment can fluctuate in response to positive news. Currently, the token is trading at approximately $0.0001958, which is a significant increase from its previous levels. Beyond just providing financial assistance, Buterin has committed to adopting Moo Deng and her family for a two-year period as part of the zoo’s Wildlife Sponsorship Program. This project not only demonstrates his dedication to animal welfare but also positions him as a well-known crypto industry figure who supports humanitarian programs. Thank you Vitalik Buterin @VitalikButerin for joining the Wildlife Sponsorship Program and adopting Moo Deng with a generous gift of 10,000,000 THB for her family! We look forward to working with you over the next 2 years for the benefit of the Khao Kheow Open Zoo community & all pic.twitter.com/Ykrr53Y2tZ Khao Kheow Open Zoo (@KhaokheowZoo) December 26, 2024 Contribution To Charity Buterin’s philanthropic efforts are well-documented. He has donated large sums of money to a number of causes in the past, including funding efforts and contributions to the fight against COVID-19 within the Ethereum network. His latest donation to Moo Deng is one of the best examples through which cryptocurrency can be leveraged for social good. Buterin stated his happiness about becoming the adoptive father of Moo Deng and underscored the importance of conservation efforts. The donation will be disbursed in two installments: an immediate payment of 5 million THB, with the balance to be paid within one year. This systematic method guarantees that the zoo can efficiently organize its conservation initiatives while simultaneously improving Moo Deng’s environment. Related Reading: Dogecoin (DOGE) Hints at Revival: Can It Defy The Odds? The Road Ahead For Meme Coins The rise of MOODENG highlights a fascinating trend in the cryptosphere: meme coins are becoming platforms for philanthropic activities and community involvement as well as speculative assets. Buterin’s involvement has cultivated a perception of genuine community involvement and social responsibility, despite the fact that many view these tokens with skepticism due to their volatility. The increased awareness of MOODENG’s association with animal welfare and Buterin’s philanthropic background may serve as a catalyst for other cryptocurrencies to emulate them. Featured image from San Diego Zoo, chart from TradingView

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$HIPPO Becomes The Top Memecoin On SUI, Achieving New Milestones

$HIPPO has quickly emerged as the leading memecoin on the SUI blockchain, dominating 24-hour trading volume and setting new all-time highs almost daily. This rapid ascent has earned $HIPPO the crown in the Moodeng narrative, surpassing $MOODENG with a current market capitalization of $162 million. $HIPPO is the new king […]

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Meme Coin Trader Misses A $25 Million Payout After Selling HIPPO On Sui Network Early

Crypto activity is dynamic, and with over two million tokens (and growing), it is hard to know precisely which of these coins will pump and on which network. Admittedly, meme coins have been dominating headlines, especially on Solana. From MooDeng to Bonk and Pepe, traders are on the lookout.  Meme Coin Trader Misses A $25 [...]

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$HIPPO On Sui Network Makes Waves With Rapid Growth And Massive Gains

Recently launched $HIPPO, developed by @hippo_cto, is already gaining significant traction within the crypto community. Often referred to as the SU-DENG (MOODENG) of Sui Network, $HIPPO is quickly becoming a favorite among traders. It has emerged as a top hot pair on DEXscreener and boasts impressive stats: a market cap […]

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