在2025年4月1日UTC的18:30 UTC，二元幣的價格突然突然並發生了巨大變化。

在2025年4月1日UTC的18:30 UTC，二元幣的價格突然突然並發生了巨大變化。 ACT/USDT的價格

The cryptocurrency market is known for its volatility, but recent price changes in several altcoins on Binance have attracted unusual attention and criticism.

加密貨幣市場以其波動性而聞名，但最近幾個Altcoins的價格變化引起了異常的關注和批評。

At 18:30 UTC on April 1, the prices of ACT/USDT, DEXE/USDT, and DF/USDT all dropped dramatically. ACT dropped by over 49%, DEXE by over 23%, and DF by over 16% during the same time frame.

在4月1日UTC的18:30，ACT/USDT，DEXE/USDT和DF/USDT的價格急劇下降。 ACT下降了49％以上，DEXE下降了23％以上，在同一時間範圍內DF下降了16％以上。

For context, the price of Bitcoin (BTC) dropped by about 7% and then stabilized at that level. The price changes of many altcoins tend to be affected by changes in the price of Bitcoin.

在上下文中，比特幣（BTC）的價格下降了約7％，然後在該水平上穩定下來。許多AltCoins的價格變化往往會受到比特幣價格變化的影響。

The large drops in the prices of these three altcoins and the time frame of the drops are what made the price changes noteworthy.

這三個山寨幣的價格大幅下降，而下降的時間範圍使價格變化值得注意。

On Monday evening, multiple altcoins on Binance experienced sharp declines. ACT/USDT dropped over 49% within 30 minutes, while DEXE/USDT fell more than 23% and DF/USDT declined over 16% in the same period.

週一晚上，有關託管的多個Altcoins經歷了急劇下降。 ACT/USDT在30分鐘內下降了49％以上，而Dexe/USDT下降了23％以上，同期DF/USDT下降了16％以上。

The sudden dips were triggered by large sell orders executed in a short time frame, leading to significant price drops for the respective altcoins.

突然的下降是由在短時間內執行的大型賣出訂單引發的，導致相應的Altcoins的價格下降。

This might be related to Binance adjusting its margin and leverage tiers on Monday, offering traders more room to utilize those tools. Notably, the updated tiers now allow for a maximum leverage of 5x for BTC and ETH, while other tokens like ADA, BNB, and LTC have a 3x maximum leverage. Previously, the maximum leverage tiers varied based on the tokens, with some tokens like APT and DEXE having a 5x maximum leverage, while others like ACT and ABNB had a 3x maximum leverage.

這可能與週一調整其利潤率並利用層次的義務有關，為貿易商提供了更多利用這些工具的空間。值得注意的是，更新的層現在允許BTC和ETH的最大槓桿作用，而ADA，BNB和LTC等其他令牌則具有3倍的最大槓桿作用。以前，最大槓桿層根據令牌而變化，有些令牌（例如APT和DEXE）具有最大槓桿作用，而ACT和ABNB（ACT和ABNB）的最大槓桿作用最大為3倍。

However, it seems that traders were mostly using these tools to short the market.

但是，看來交易者主要使用這些工具來縮短市場。

A dramatic drop in price was immediately caused by a large number of sell orders that came in all at once and overwhelmed the market. On Binance, the price of $ACT was just about to fall when the exchange adjusted its margin and leverage tiers to give traders more room to use those tools.

價格急劇下降是由大量賣出訂單立即引起的，這些賣出訂單立即產生並不堪重負的市場。在binance上，當交易所調整其利潤並利用層次以使交易者有更多使用這些工具的空間時，$ ACT的價格即將下跌。

These weren’t traders who were just using margin to double-down on their long positions, either. When they were using these tools, they were mostly using them to short the market.

這些也不是僅僅在長位置上使用保證金兩倍的交易者。當他們使用這些工具時，他們主要是在使用它們來縮短市場。

One of the most important happenings that worked to bring about the crash was the liquidation of a position held by a whale, which was valued at $3.79 million. This position was liquidated at a price of $0.1877, and the event sent shockwaves through the market, which was already struggling from a lack of sufficient buy support due to the volume of sell orders. The whale’s liquidation drove the price of $ACT down by over 50% from its recent highs, compounding the price decline that was already in motion.

造成撞車事故的最重要的事情之一是清算了鯨魚持有的職位，該職位的價值為379萬美元。該職位以0.1877美元的價格清算，該活動在市場上引發了衝擊波，由於賣出訂單的數量，這已經因缺乏足夠的買入而苦苦掙扎。鯨魚的清算使$ ACT的價格從最近的高點下降了50％以上，這加劇了已經在運動中的價格下跌。

Binance updated leverage & margin tiers on tokens like $ACT — and a whale got liquidated for $3.79M at $0.1877.

Binance更新了諸如$ ACT等令牌上的槓桿和保證金層 - 一條鯨魚以379萬美元的價格清算為0.1877美元。

Since then, the price of $ACT has plunged more than 50%.https://t.co/MT0EgNW8ib pic.twitter.com/CRuTR9bwSh— Lookonchain (@lookonchain) April 1, 2025

從那時起，$ ACT的價格下跌了50％以上。

The liquidation of whales and the intensifying sell orders caused $ACT to drop like a rock from a price point that had been much higher just prior. Few traders, in fact, seemed to see the plummet coming or were prepared for it. The immediate price action that sent the token lower was triggered by a fast-paced group of sellers, but those sellers were liquidating from large positions. And in crypto, large position liquidators tend to be market makers in some way.

鯨魚的清算和加劇的賣出訂單導致$ ACT從先前要高得多的價格點下降。實際上，很少有交易員似乎看到這種情況下降或為此做好了準備。派出令牌較低的立即價格行動是由一群快節奏的賣方觸發的，但這些賣方正在從大職位上清算。在加密貨幣中，清算人在某種程度上傾向於成為做市商。

At the same time, other altcoins on Binance suffered severe drops. $ACT wasn’t the only one affected. Tokens like DEXE and DF were also hit hard and fell significantly. DEXE dropped over 23%, and DF was down 16%. My guess is that as long as large sell orders are hitting the market, other tokens are also at risk.

同時，其他唯一的Altcoins遭受了嚴重的降低。 $ ACT並不是唯一受影響的人。像Dexe和DF這樣的令牌也受到了嚴重的打擊。 Dexe下降了23％以上，DF下降了16％。我的猜測是，只要大型賣出訂單正在市場上市，其他代幣也有風險。

This was also accompanied by a surge in spot trading volume, which was something of a counterintuitive reaction to the price declines. As traders reacted to these sudden price moves, either trying to profit from the volatility or protect themselves from further losses, we saw an increase in spot trading volume. Prices were declining, but a large number of traders had decided to bet against the price declines. This in turn added even more pressure to the prices, causing prices to fall even further.

這也伴隨著現貨交易量的激增，這是對價格下跌的反應反應。隨著交易者對這些突然的價格變動做出反應，試圖從波動性中獲利或保護自己免受進一步的損失，我們看到現貨交易量的增加。價格正在下降，但是大量交易者決定押注價格下降。反過來，這給價格增加了更大的壓力，導致價格進一步下跌。

For a lot of people, the recent steep and sudden drops have led to queries regarding the overall strength of the market, particularly when it comes to the smaller altcoins that are much more likely to be hit hard by a sell-off. While Bitcoin and Ethereum remain more stable, altcoins such as $ACT, $DEXE, and $DF are still primed to take

對於許多人來說，最近的陡峭和突然的下降導致了有關市場總體強度的疑問，尤其是當涉及到較小的山寨幣時，這些山羊更有可能被拋售而嚴重打擊。儘管比特幣和以太坊保持穩定，但諸如$ ACT，$ DEXE和$ DF之類的Altcoins仍在準備服用