A cryptocurrency whale has suffered a staggering loss of $2.17 million following a major crash of the $ACT token.

The whale had withdrawn 4.58 million $ACT tokens from Binance four months earlier when the entire amount was approximately $2.49 million.

A cryptocurrency whale has suffered a staggering loss of $2.17 million following a major crash of the $ACT token, which slid as low as $0.0712 on April 2.

The whale had withdrawn 4.58 million $ACT tokens from Binance four months earlier when the entire amount was approximately $2.49 million. However, the recent downfall of the price of the token severely affected the portfolio of the whale.

According to Lookonchain, the value of the 4.58 million ACT tokens dropped to as low as $320K, highlighting the volatility of the digital currency market. The drastic drop showcases the risks of investing in highly volatile assets, especially for large investors who are affected commensurately by market volatility.

The post Cryptocurrency Whale Suffers $2.17M Loss After $ACT Token Crashes 62% in 24 Hours

appeared first on TokenPost | Latest Cryptocurrency, Blockchain & Web3 News.

The value of the $ACT tokens dropped by 62% in 24 hours as the price crashed from $0.189 to $0.0712. This resulted in a surge of trading volume to 120 million dollars, which is much above its previous daily average of 20 million dollars. The biggest bullish volume from the dollar pairs came first from $ACT/USDT, then $ACT/BTC, and finally $ACT/ETH.

On-chain data showed a sharp rise in ACT transactions, with over 10,000 recorded in a single day, up from an average of 2,000. The increase indicates panic selling among investors, and this may continue to drive prices downward as long as there is strong selling pressure.

$ACT Flash Crash Triggers $3.79 Million Liquidations

Market indicators on April 2, 2025, reflect the severity of the crash. The Relative Strength Index (RSI) for ACT dropped to 12, indicating extreme oversold conditions. Meanwhile, the Moving Average Convergence Divergence (MACD) confirmed bearish sentiment with a significant crossover. A ‘death cross' signal was also observed in the $ACT/BTC trading pair on Binance.

Also, active addresses trading against ACT surged from 500 to over 3,000, reflecting heightened sell activity. As traders prefer USDT pairings when they are liquidating, market sentiment is very bearish, and this reflects an extended downtrend of ACT unless there is a concrete catalyst to turn the trend around.

According to Coinglass, the ACT flash crash resulted in $3.79 million worth of liquidations. Spot traders were also affected, as their positions were more than halved. In the entire market, 113,712 traders were liquidated and total liquidations reached $274.25 million within 24 hours.