Binance Flash Crash: How Altcoins Hit Zero Amidst Market Mayhem

Crypto markets experienced a historic crash on October 10th, leading to unprecedented volatility and the sudden disappearance of certain altcoins’ valuations on Binance. While Bitcoin dropped by around 10-15%, causing a ripple effect across the market, a more alarming phenomenon occurred: many tokens briefly plummeted to zero values on Binance. This raises critical questions about the stability of cryptocurrency trading platforms and the resilience of DeFi ecosystems in the face of extreme market swings. While the causes are still being investigated, several factors contributed to this sudden collapse.