Binance Altcoins Briefly Crash to Zero Amid Massive Market Liquidations
During the substantial cryptocurrency market downturn on October 9-10, several altcoins on Binance, including Cosmos’s ATOM, IoTeX’s IOTX, and Enjin’s ENJ, experienced a sudden and dramatic price collapse, briefly touching zero on the exchange. This unusual occurrence was confined to Binance, as these tokens maintained significant value on other centralized crypto platforms. The market-wide decline was severe, marking the harshest drop since the collapse of FTX. The total crypto market capitalization fell by nearly $850 billion within hours. Bitcoin (BTC) saw a decrease of approximately 10-15%, dropping from highs near $124,000 to lows around $105,000. However, altcoins faced a more












