Polymarket’s Evolution: From DeFi Startup to ICE-Backed Global Platform
Polymarket’s Evolution: From DeFi Startup to ICE-Backed Global Platform
Polymarket, a blockchain-based prediction platform, has received a $2 billion investment from Intercontinental Exchange (ICE), marking a pivotal step in merging traditional finance (TradFi) with decentralized markets. Inside ICE’s Polymarket Deal: A Turning Point for Crypto Prediction Platforms Polymarket, a decentralized prediction market built on the Polygon blockchain, is entering a new phase of growth […]
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Sinking In Minutes: Binance Alpha Token Plunges 99% In Shocking Price Meltdown
AB Token plunged nearly 99% in a matter of minutes on Binance Alpha, then staged a partial bounce that left traders shaken. According to market trackers, the token fell from about $0.0083 to $0.0000051 in roughly two minutes, wiping out almost all of its value at the low point. Related Reading: XRP Open Interest Nears $3B As CEO Sees $10B ETF Inflows Ahead Trade data shows a rebound afterward, with prices climbing back toward $0.00151, though that still left the token more than 80% lower for the day. Binance Token Sudden Crash Shows Market Fragility Based on reports, the bloodbath unfolded very quickly. Trading volume spiked as roughly 573,000 AB tokens changed hands during the volatility, which pushed the 24-hour volume past $5 million. Liquidity numbers were thin by comparison: the token’s liquidity pool was reported at about $2.17 million. That gap between volume and liquidity can make markets vulnerable when large orders hit. According to Binance market data, the Binance Alpha token AB plunged from $0.0083 to $0.0000051 within two minutes — a drop of about 99% — before rebounding to $0.00151, still down more than 80% on the day. pic.twitter.com/mH8Y98MzES — Wu Blockchain (@WuBlockchain) October 9, 2025 The Likely Culprit Observers pointed to concentrated ownership as a likely amplifier. Reports have disclosed that the top 10 wallets controlled more than 97% of the circulating supply, which is listed at about 81 billion AB tokens with a total supply around 98 billion. Where so much of a token sits in a few hands, a single large sell order can push the price through multiple levels with little resistance. On-chain reports showed two large sales around the event: one for 192 million AB and another for 500 million AB, moves that coincided with heavy downward pressure. Theories On What Triggered The Plunge Market watchers suggested a number of possible triggers. A big wallet dump, a market maker pulling liquidity, or algorithmic trading that amplified price swings were among the ideas floated. Because the token trades on several venues, including Bitget and Gate, contagion between platforms can happen fast. No official explanation has been released by Binance or the AB project team, and that lack of comment has left traders relying on public trades and exchange charts to piece the timeline together. Related Reading: XRP Fear Index Spikes To 6-Month High, And That Could Spark Its Next Breakout On Recovery & Damage The price later retraced some losses, and some reports said it nearly reached prior levels at times. However, that bounce did not erase the hit to confidence. Many retail traders who were hit by the flash crash reported losses, and sentiment turned strongly negative in the short term. Featured image from Pixabay, chart from TradingView
Crypto Could Tip The Scales — 64% Of Voters Say It Guides Their Vote
According to a new poll released this week, 64% of voters said a candidate’s stance on cryptocurrency is a “very important” factor when choosing who to support. Related Reading: Bitcoin Is The Standard Now: Outperform It, Or Get Left Behind – CEO The survey, conducted by McLaughlin & Associates for The Digital Chamber, reached 800 […]