This Altcoin Listed on Binance Dropped Big! Here's the Possible Reason for the Drop!
In recent months, some altcoins listed on Binance have experienced sudden and sharp declines and have become a hot topic in the market.
A new one has been added to these declines. In recent hours, the altcoin named Dego Finance (DEGO), listed on Binance, experienced a sudden drop of 50%.
The value of DEGO, which was listed on Binance Launchpool in 2021, fell by 50 percent in minutes.
The reason for the sharp decline is not yet known and no official statement has been made.
Previously, there were sharp and sudden declines in altcoins such as LEVER, OM, ACT and TST.
However, it was stated on social media that DEGO's support for USD1 liquidity on the BNB Chain may have been effective in this decline.
It has been claimed that adding USD1 liquidity to DEGO means allowing users to buy and sell DEGO with a stablecoin, and this could create fud by changing the liquidity.
*This is not investment advice.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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