AB Token Drops 99% on Binance Alpha Before Partial Rebound
AB Token Crash on Binance Alpha
- AB Token experienced a dramatic plunge of nearly 99% in minutes on Binance Alpha. The price dropped from $0.0083 to $0.0000051 before partially recovering to $0.00151, still over 80% down for the day.
- The crash highlighted market fragility, with trading volume reaching over $5 million as 573,000 AB tokens were exchanged. However, liquidity remained low at approximately $2.17 million.
- Concentrated ownership was identified as a risk factor; the top 10 wallets control over 97% of the circulating supply of 81 billion AB tokens.
- Significant sales occurred during the event, including transactions of 192 million and 500 million AB tokens, contributing to downward pressure.
- Possible triggers include large wallet dumps, liquidity withdrawal by market makers, and algorithmic trading influencing price volatility.
- The token's presence on multiple platforms like Bitget and Gate increased the risk of rapid contagion across markets.
- No official statements have been made by Binance or the AB project team, leaving traders to analyze public data and charts independently.
- Despite a partial recovery, confidence remains affected, with many retail traders reporting losses and negative sentiment prevailing in the short term.
