TechFlow, April 2 — Regarding yesterday's consecutive decline in the ACT token price, Binance has released an investigation report on the price volatility. The investigation revealed that three VIP users cross-sold approximately 514,000 USDT worth of ACT tokens in the spot market, while one non-VIP user transferred and sold tokens valued at 540,000 USDT from external sources. During the drop in ACT price, some users' futures contracts were liquidated, triggering declines in other tokens as well.
Binance stated that to prevent potential risks, it has proactively reduced the maximum leverage for the ACTUSDT perpetual contract. However, since all tokens are already in circulation on the secondary market, the platform cannot intervene in users' selling activities. Binance will continue monitoring the situation and adjust risk control measures accordingly.
