AERGO Crashes 70% After Binance Futures Listing: Community Cries Foul Play!

From High Hopes to Heartbreak: AERGO's Wild Ride

Hold onto your hats, crypto fans! AERGO has nosedived over 70% since hitting Binance Futures, and the community is up in arms, screaming market manipulation and shady sell-offs. Talk about a rollercoaster ride!

AERGO (AERGO) hit rock bottom at $0.12 on April 17, Asian time, slashing its market cap from a whopping $307 million to a measly $78.5 million. And guess what? Its daily trading volume skyrocketed 88% in the last day, clocking in at over $1.37 billion. Can you feel the heat?

Just when you thought things were looking up, AERGO took a nosedive after a two-week rally starting April 6. It soared over 1,200% to a mind-blowing high above $0.658 on April 16, only to crash and burn by about 75% the very next day. Ouch!

The freefall started less than 12 hours after AERGO got listed on Binance Futures, where traders could go wild with up to 15x leverage on the AERGO/USDT pair. Talk about a perfect storm!

Folks on X are raising eyebrows at the timing of this crash, especially after Binance pulled the plug on AERGO's spot trading pair on March 28. They said it was just routine, but come on, Binance, can't you at least try to hide it?

Some are calling it out loud and clear: "Sometimes market manipulation is just too obvious. Binance, you should at least try to hide it. Previously, Binance delisted $AERGO, a week later the token pumped x10, then Binance relisted $AERGO on perpetuals, and the token dumped 70% within a few hours. Might present it as support for..."

Despite the delisting, AERGO shot up over 10x in the following weeks. But just hours after Binance brought it back on their Futures platform, bam! The sell-off hit hard, fueling even more suspicion about what's really going on.

"Binance is playing a dirty game again," slammed Crypto Gem Signals. They're calling out Binance for only jumping in when there's hype to cash in on, labeling their latest move as proof that they're the "biggest fraud exchange ever." You tell 'em!

AERGO futures were under heavy fire across major derivatives platforms, with most bets leaning bearish. Open interest plummeted, and funding rates went deep into the red on nearly all exchanges.

On Bybit, open interest tanked over 53% to $36.48 million, while Gate.io and MEXC saw drops of more than 50% and 71%, respectively. Funding rates were in the negative zone—Bybit at -3.000%, Binance at -2.000%, and Bitunix at -1.600%—showing that traders were betting big on a price drop.

In a statement on X on April 17, the Aergo team admitted the wild volatility had everyone on edge. They clarified they got no heads-up about the token's re-listing on Binance Futures.

The team even asked Binance to put AERGO back on Spot to calm the crazy price swings, but so far, they've been met with radio silence from the exchange.

"We're not here for short-lived pumps—we're here to build," they declared. You can feel their determination!

But wait, there's more! Concerns about AERGO's token distribution are also making waves. Altcoin Gordon, a popular trader on X, pointed out that over half of AERGO's supply is in the hands of the team, early investors, and advisors. That's a recipe for insider-driven price moves, folks!

He even compared AERGO's setup to OM, which tanked over 90% on April 13 after some big token holders moved funds to exchanges, triggering a domino effect of forced liquidations. It's a stark reminder of the risks when supply is centralized.