What Caused the ACT Crash?

The ACT crash may be linked to leverage trading changes on Binance. The exchange announced margin adjustments for ACTUSDT and five other altcoins, but since other tokens listed in the update didn’t suffer similar declines, market observers speculated on alternative causes.

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

Some traders believe that the new ACTUSDT perpetual contract margin change may have triggered a liquidation event for a market maker, forcing them to sell other tokens. Arkham data suggests that Wintermute, a major market maker, sold a significant amount of ACT on April 1.

Binance’s Statement!

Binance later confirmed that the ACT crash resulted from spot market sales by four accounts. Three VIP users sold around 514 million USDT worth of ACT, while a non-VIP user liquidated 540,000 USDT worth of ACT.

These sales caused ACT’s price to plummet rapidly, dragging other low-market-cap tokens down with it. Binance stated that its investigation is ongoing.

ACT’s Market Value and History

ACT was a key player in last year’s Solana-based AI memecoin boom, combining viral meme culture with AI hype.

At its peak, ACT reached a market capitalization of $890 million, becoming one of the few AI memecoins listed by Binance. However, its value has since plummeted over 85% to around $95 million.

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ACT Coin Plunges by 65%

One of the biggest losses of the day was seen in ACT, which dropped 65% from $0.19 to $0.0681. Binance released a statement explaining:

• Three VIP users sold $514,000 USDT worth of ACT on Binance’s spot market.
• A non-VIP user transferred a large amount of ACT into their account and sold $540,000 USDT worth of it.

This sudden price drop led to the liquidation of futures positions and caused declines in other low market cap tokens. Binance stated that no single account was identified as making a significant profit from the incident so far.

COMP Coin Listed on Upbit

One of South Korea’s largest crypto exchanges, Upbit, officially listed COMP today. The listing significantly increased its trading volume and investor interest.

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

VanEck BNB ETF Registered in Delaware

VanEck completed the official registration process for a BNB Exchange-Traded Fund (ETF) in Delaware. This move may increase institutional investor interest in BNB and positively impact its price.

MASK Coin Drops 53%

MASK saw a sharp 53% decline, falling from $2.53 to $1.35. This major drop is part of the broader sell-off seen among low-cap altcoins.

Other Trending Coins and Developments

• SUI
• DEXE
• PEPE: Leading among meme coins in trading volume.
• EOS
• WAL
• FARTCOIN

These market fluctuations highlight the importance of careful investment strategies. Stay tuned for more updates and in-depth analysis!

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What is DEXE Coin?

DeXe Network is a blockchain platform that includes decentralized finance (DeFi) tools, asset management service and a decentralized social trading platform. The project has a native cryptocurrency called DEXE coin.

DeXe emerges as a social investment platform that copies the strategies of the best investors. There is the opportunity to own one or more tokens for each investor. Each token is supported by a real asset and its price is shaped according to the skills of the investor.

DeXe coin has two important functions:

Automatic repurchase and distribution among insurance funds: Burning tokens for farming rewards among token holders and a percentage of investors’ rewards.

Participation to DeXe DAO: You don’t need to be a DEXE token holder to join DeXe.network and benefit from various social trading functions. However, to fully participate in the community, users need to acquire DEXE.

There are two types of user experience on the platform:

The user can simply copy the wallet through the DeXe interface on the platform.

The user can control statistics and ratings, select the desired investor and start copying the smart contract through the DeXe network.

DeXe Coin Review and Future

It is stated that interest in DeXe Coin is increasing and it is among the promising cryptocurrencies in the future. However, it is stated that investors are still distant to DEXE coin.

DEXE Coin can be purchased through Binance, the world’s largest cryptocurrency trading platform. By becoming a member of Binance, it is possible to send fiat money and then make a purchase in the BUSD and Ethereum (ETH) DEXE trading pair where DEXE Coin is traded. The Limit tab can be used for buying transactions at the desired price on Binance and a purchase request can be entered.

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