In recent hours, Binance, one of the leading cryptocurrency exchanges globally, has been the scene of a decidedly anomalous market event. Within minutes, a series of mid and low-cap altcoins, many of which were recently listed, suffered double-digit price collapses, shaking the crypto community and raising questions about the possible causes.
Among the most affected coins is Act 1 The Prophecy (ACT), a meme coin based on the Solana blockchain, which saw its value plummet by about 50% in an incredibly short period. But ACT was not the only victim of this sudden wave of selling. Even medium-small value DeFi protocols like DEXE and DF from DForce have suffered significant losses, with both tokens recording a drop of about 20% in just a few minutes.