故事（IP）令牌價格下跌25％引發咒語崩潰的問題

在短短的一個小時內，故事令牌的急劇下降引起了貿易社區的擔憂，暗示了災難性咒語崩潰的潛在復發。

On 15th April, the rapid decline of the Story (IP) token by 25% within an hour from $4.24 to a low of $3.02 on 14th April sparked concerns among traders.

4月15日，故事（IP）代幣的迅速下​​降在一個小時內從4.24美元到4月14日的3.02美元的低點，這引起了交易者的關注。

However, Story recovered slightly to $3.73 after the so-called ‘flash crash’ from a high of $4.33 earlier in the day, reaching a low of $3.02. But concerns over market liquidity and possible insider selling remained.

但是，在當天早些時候的高處4.33美元的“閃光崩潰”之後，Story略有回收到3.73美元，達到3.02美元。但是對市場​​流動性和可能的​​內部銷售的擔憂仍然存在。

As traders discussed the latest drop of the Story token on social media, some noted the similarities with the recent Mantra (UMAGI) token crash.

當交易者討論了社交媒體上的最新故事標記的最新信息時，一些人指出了與最近的咒語（Umagi）代幣崩潰的相似之處。

Earlier this month, the Mantra token underwent a 90% price reduction from a high of $34 to a low of $3.2 on 12th April, resulting in a $5 billion market cap loss on the same day.

本月早些時候，咒語令牌的價格從34美元的高價降低到4月12日的3.2美元，導致同一天的市值損失50億美元。

The majority of IP’s trading volume was on Binance Futures and OKX spot, both of which were implicated in the Mantra crash. After the sudden downturn, both exchanges provided different explanations for the crash.

IP的大部分交易量都是在二元期貨和OKX現貨上，這兩者都涉及咒語崩潰。突然下滑後，兩次交流都為撞車事故提供了不同的解釋。

During the period of low liquidity, multiple exchanges encountered forced liquidations, leading to the liquidation of massive positions in the futures market due to significant price movements, explained Binance, aligning with the Mantra CEO’s statement.

在低流動性期間，由於價格上的重大變動，多次交流遇到了強迫清算，導致在期貨市場上清算了大規模的職位。

Meanwhile, OKX noted modifications made to Mantra’s tokenomics model and highlighted substantial token deposits on several centralized exchanges. This explanation from OKX seemed to align more with the findings of independent investigators who attributed the crash to insider selling.

同時，OKX指出了對Mantra的Sokenomics模型進行的修改，並在幾個集中的交易所中強調了大量的令牌沉積物。 OKX的這種解釋似乎與將墜機事故歸因於內幕銷售的獨立調查員的發現更加吻合。

For smaller projects like Story and Mantra, both low liquidity and insider selling can contribute to significant price volatility. A Kaiko research report indicated that the rapid Mantra token crash resulted in the liquidation of $21 million in long positions, further fueling the price volatility.

對於諸如故事和咒語之類的較小項目，低流動性和內部銷售都可能導致價格大幅波動。 Kaiko研究報告表明，快速的咒語令牌墜毀導致長期以來清算了2100萬美元，進一步加劇了價格波動。