故事（IP）令牌价格下跌25％引发咒语崩溃的问题

在短短的一个小时内，故事令牌的急剧下降引起了贸易社区的担忧，暗示了灾难性咒语崩溃的潜在复发。

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）代币的迅速下​​降在一个小时内从4.24美元到4月14日的3.02美元的低点，这引起了交易者的关注。

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，在当天早些时候的高处4.33美元的“闪光崩溃”之后，Story略有回收到3.73美元，达到3.02美元。但是对市场​​流动性和可能的​​内部销售的担忧仍然存在。

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

当交易者讨论了社交媒体上的最新故事标记的最新信息时，一些人指出了与最近的咒语（Umagi）代币崩溃的相似之处。

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.

本月早些时候，咒语令牌的价格从34美元的高价降低到4月12日的3.2美元，导致同一天的市值损失50亿美元。

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货和OKX现货上，这两者都涉及咒语崩溃。突然下滑后，两次交流都为撞车事故提供了不同的解释。

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.

在低流动性期间，由于价格上的重大变动，多次交流遇到了强迫清算，导致在期货市场上清算了大规模的职位。

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.

同时，OKX指出了对Mantra的Sokenomics模型进行的修改，并在几个集中的交易所中强调了大量的令牌沉积物。 OKX的这种解释似乎与将坠机事故归因于内幕销售的独立调查员的发现更加吻合。

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.

对于诸如故事和咒语之类的较小项目，低流动性和内部销售都可能导致价格大幅波动。 Kaiko研究报告表明，快速的咒语令牌坠毁导致长期以来清算了2100万美元，进一步加剧了价格波动。