Several cryptocurrency tokens dropped up to 50% during a half-hour window Tuesday April 1 on the Binance Trading platform.
Like Coindesk reportedThe event left speculating market observers if an erroneous commercial robot could have caused the drops, although there was no immediate explanation.
According to the report, none of the tokens in question is linked or even in the same sector. The data has shown an increase in the sale of volumes at the same time, without other chips on Binance by seeing comparable tips.
The Coindesk report speculates that volatility could result from the advertisement by Binance of modifications of leverage and margin levels for perpetual contracts for a certain number of tokens, including the law / USDT.
The exchange said that the new rules would apply to existing positions, said Coindesk, which probably triggered position adjustments by exchanging robots, causing price volatility in perpetuates, which quickly spread at prices.
The fall spread to other trading platforms, added the report, the tokens in question falling as equivalent amounts on centralized and decentralized exchanges.
The news follows a recent collapse of cryptocurrencies and actions related to the crypto due to the concerns of merchants concerning a world trade war and a possible recession.
These actions had increased in value at the start of the year when President Donald Trump prepared to return to the White House. On the day of Trump’s inauguration, the Bitcoin price has reached a top of all time.
But now Trump’s pricing plan has left the greatest unstable economy, while some cryptography defenders are lukewarm on its digital asset efforts. For example, as Bloomberg News reported it earlier this week, while Trump published a decree to create a Bitcoin Strategic Reserve, he did not authorize the use of taxpayers’ money to extend it.
Meanwhile, Pymnts wrote on Tuesday on the use of assets by companies such as Bitcoin as coverage against economic uncertainty and inflation.
For example, a Japanese hotel business Metaplanet On Tuesday, bought 696 bitcoin for its business participation at the cost of around 60 million dollars. And last week, video game detail GameStop announced that its board of directors had approved a review of its business investment policy to allow the company to buy Bitcoin with its business species.
“However, as digital assets become more integrated into traditional finance, a regulatory examination is likely to intensify,” said this report. “Treasurers are responsible for ensuring that their systems are equipped to meet increased compliance standards without sacrificing operational efficiency.”
