A cryptocurrency trader suffered a $3.79 million loss after Binance unexpectedly updated leverage and margin tiers for select tokens.
One of the affected tokens was Act I (ACT), where the trader’s $3.79 million position was liquidated at $0.1877, according to the latest on-chain data retrieved by Finbold from Lookonchain on April 1.
Binance liquidation summary. Source: CoinGlass
After the liquidation, one of the largest for the day, ACT experienced a massive price drop. As of press time, the token was trading at $0.1018, down 46% in the last 24 hours and nearly 50% on the weekly timeframe.
ACT one-week price chart. Source: CoinMarketCap
This price collapse has compounded losses for those still holding leveraged positions.
Notably, the ripple effects of the ACT liquidation extended beyond the token itself, impacting the broader altcoin market, especially those tied to artificial intelligence (AI) projects.
Binance futures update
The trading platform revealed the changes
We współpracy z: https://finbold.com/crypto-trader-loses-3-7m-after-binances-sudden-rule-update/
