crypto akash
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🚨 $KAVA crashed over 55% in a single day — here is what happened
KAVA fell from around $0.068 to a low near $0.030 on November 14. This was NOT a market-wide move — BTC was down only ~4% the same day. This was a KAVA-specific incident.
What we know so far:
• Around 10:04 UTC, roughly 48.2M KAVA (~$3.3M) appeared on BNB Smart Chain, linked to Kava Lend, the project's lending protocol
• Those tokens were then sold on DEX, creating massive sell pressure
• The selling wallet reportedly still holds around 47.6M KAVA — so more supply could hit the market
The Kava team's response:
• They confirmed unusual on-chain activity, isolated to Kava Lend
• They say it is NOT an infinite mint and the incident is contained
• The Axelar bridge has been paused as a precaution
• A full incident report is still pending — the exact cause is not yet confirmed
Exchange reactions:
• Upbit, Bithumb and Coinone suspended KAVA deposits and withdrawals
• Upbit also placed KAVA on its delisting watchlist
⚠️ My take: after a vertical crash like this, catching the bottom is extremely risky. Volatility is extreme, the investigation is not finished, and more tokens may still be sold. Wait for the official incident report before making any decision.
Not financial advice. Trade safe. 🔐
#KAVA #CryptoNews #BinanceSquare
🚨 $KAVA crashed over 55% in a single day — here is what happened
KAVA fell from around $0.068 to a low near $0.030 on November 14. This was NOT a market-wide move — BTC was down only ~4% the same day. This was a KAVA-specific incident.
What we know so far:
• Around 10:04 UTC, roughly 48.2M KAVA (~$3.3M) appeared on BNB Smart Chain, linked to Kava Lend, the project's lending protocol
• Those tokens were then sold on DEX, creating massive sell pressure
• The selling wallet reportedly still holds around 47.6M KAVA — so more supply could hit the market
The Kava team's response:
• They confirmed unusual on-chain activity, isolated to Kava Lend
• They say it is NOT an infinite mint and the incident is contained
• The Axelar bridge has been paused as a precaution
• A full incident report is still pending — the exact cause is not yet confirmed
Exchange reactions:
• Upbit, Bithumb and Coinone suspended KAVA deposits and withdrawals
• Upbit also placed KAVA on its delisting watchlist
⚠️ My take: after a vertical crash like this, catching the bottom is extremely risky. Volatility is extreme, the investigation is not finished, and more tokens may still be sold. Wait for the official incident report before making any decision.
Not financial advice. Trade safe. 🔐
#KAVA #CryptoNews #BinanceSquare
KAVA fell from around $0.068 to a low near $0.030 on November 14. This was NOT a market-wide move — BTC was down only ~4% the same day. This was a KAVA-specific incident.
What we know so far:
• Around 10:04 UTC, roughly 48.2M KAVA (~$3.3M) appeared on BNB Smart Chain, linked to Kava Lend, the project's lending protocol
• Those tokens were then sold on DEX, creating massive sell pressure
• The selling wallet reportedly still holds around 47.6M KAVA — so more supply could hit the market
The Kava team's response:
• They confirmed unusual on-chain activity, isolated to Kava Lend
• They say it is NOT an infinite mint and the incident is contained
• The Axelar bridge has been paused as a precaution
• A full incident report is still pending — the exact cause is not yet confirmed
Exchange reactions:
• Upbit, Bithumb and Coinone suspended KAVA deposits and withdrawals
• Upbit also placed KAVA on its delisting watchlist
⚠️ My take: after a vertical crash like this, catching the bottom is extremely risky. Volatility is extreme, the investigation is not finished, and more tokens may still be sold. Wait for the official incident report before making any decision.
Not financial advice. Trade safe. 🔐
#KAVA #CryptoNews #BinanceSquare
395
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#BinanceTurns9 Binance Turns 9 - Built By You
Happy 9th Birthday, Binance! 🎉 Thank you for building a trusted crypto ecosystem and creating amazing opportunities for users worldwide. Wishing Binance continued growth, innovation, and success for many more years! #BinanceTurns9
#BinanceTurns9 Binance Turns 9 - Built By You
Happy 9th Birthday, Binance! 🎉 Thank you for building a trusted crypto ecosystem and creating amazing opportunities for users worldwide. Wishing Binance continued growth, innovation, and success for many more years! #BinanceTurns9
Happy 9th Birthday, Binance! 🎉 Thank you for building a trusted crypto ecosystem and creating amazing opportunities for users worldwide. Wishing Binance continued growth, innovation, and success for many more years! #BinanceTurns9
49
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#BinanceTurns9 Binance Turns 9 - Built By You
Happy 9th Birthday, Binance! 🎉 Thank you for building a trusted crypto ecosystem and creating amazing opportunities for users worldwide. Wishing Binance continued growth, innovation, and success for many more years! #BinanceTurns9
#BinanceTurns9 Binance Turns 9 - Built By You
Happy 9th Birthday, Binance! 🎉 Thank you for building a trusted crypto ecosystem and creating amazing opportunities for users worldwide. Wishing Binance continued growth, innovation, and success for many more years! #BinanceTurns9
Happy 9th Birthday, Binance! 🎉 Thank you for building a trusted crypto ecosystem and creating amazing opportunities for users worldwide. Wishing Binance continued growth, innovation, and success for many more years! #BinanceTurns9
71
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