Why did KERNEL crypto crash over 40% today?
Binance-backed KernelDAO faced a sharp sell-off right after its token KERNEL started trading on Binance following its token generation event.
KERNEL’s debut on Binance was met with a swift sell-off as Airdrop recipients offloaded their holdings. The token fell by nearly 44% to a session low of $0.262, bringing its market cap down to $48.6 million.
The launch triggered a frenzy of activity, with 24-hour trading volume surging to nearly $380 million. At the time, around 149.8 million KERNEL tokens were in circulation.
KERNEL began trading on April 14 with multiple pairs, including KERNEL/USDT and KERNEL/BNB. Beyond spot trading, Binance also rolled out KERNEL across other key services, like Simple Earn, Buy…
