Binance Incident: A Lesson in Crypto Volatility
The crypto world is never short of surprises, and the recent Binance incident was a real doozy. So what happened? Well, Binance had a display issue on their platform, which showed several altcoins, including IoTeX (IOTX), Cosmos (ATOM), and Enjin (ENJ), crashing to $0. This wasn’t the first time either; Binance has had its fair share of tech hiccups before. But here’s the kicker – it led to a massive wave of liquidations, with traders losing as much as $1 billion in forced sell-offs. The whole incident has left many people questioning the reliability of centralized exchanges like Binance.
Trust Issues
It’s understandable why user trust in centralized exchanges might take a hit after such an event. Nobody wants to see their holdings…
