Binance Coin (BNB) reached a record high of $1,370 before experiencing a significant price drop following a technical glitch on the Binance platform. The crash resulted in a staggering $19 billion wiped off the crypto market capitalization, with widespread impacts felt across major cryptocurrencies like Ethereum and Bitcoin. Binance has pledged to compensate affected users for losses, while experts and analysts are scrutinizing the incident’s potential systemic implications for future volatility. 80% of the total market crash was attributed to Binance, according to reports from experts. The situation has sparked concerns about the stability of crypto exchanges and has led to discussions around the role of technical issues and global economic factors in recent market fluctuations.