AI Prophecy Memecoin Plummets 70% in 3 Days: Binance's Leverage Changes Trigger Chaos

From $0.19 to $0.05: A Brutal Crash

The AI Prophecy memecoin, known as ACT, has been on a wild ride, crashing over 70% in just three days. This rollercoaster started when Binance tweaked the leverage and margin tiers for the ACT/USDT pair, sparking a frenzy of liquidations and forced sell-offs. It's been a bloodbath out there!

The Numbers Don't Lie

Right now, ACT is trading at a measly $0.05, down a staggering 24% in the last 24 hours alone. The madness kicked off on April 1, amidst a broader market meltdown that saw several altcoins on Binance nosedive between 20-50% in a single day. But ACT? It took the crown for the biggest drop, plummeting nearly 60% from $0.19 to $0.08 in less than an hour. That's a brutal $96 million wiped off its market cap in a flash!

The ACT Team's Response

The ACT crew didn't just sit back and watch the chaos unfold. They launched a full-blown investigation to get to the bottom of this crash. Just yesterday, they dropped an update, pointing the finger at Binance's recent changes to leverage and margin tiers for multiple tokens, including our very own ACT.

Post Mortem

Dear ACT Community,

Over the past 24 hours, the ACT token took a nosedive like we've never seen before. We're not about to sugarcoat it—we're laying it all out on the table. As a community-driven project with no centralized leadership, our...

Binance's Role in the Crash

On April 1, Binance pulled the rug out from under us, slashing the maximum leverage position for ACT/USDT futures to $4.5 million and messing with the margin tiers. And get this—they only gave us a measly 3-hour heads-up before pulling the trigger. Traders holding leveraged positions on ACT were left scrambling, forced to cut their losses, which unleashed a tsunami of sell pressure. Binance's own investigation spilled the beans, revealing that four users—three VIP traders and one non-VIP—dumped over $1 million worth of ACT on the spot market.

The Aftermath

The damage was done on April 1, with ACT's price getting slashed by 57%, opening at $0.19 and closing at $0.08. But the bleeding didn't stop there. On April 2, ACT took another 35% hit, finally stabilizing around $0.05. Its market cap now sits at a paltry $49.5 million, a jaw-dropping 94% drop from its peak of $890 million. It's been a wild ride, and the dust is still settling.