Binance responds to OM flash crash: It was mainly triggered by cross-trading platform clearing and will closely monitor developments
According to online reports, Binance officially issued a document saying that it had noticed sharp price fluctuations in the MANTRA token OM. Preliminary investigation found that the fluctuations in the past day were mainly triggered by cross-trading platform clearing. Since October last year, Binance has implemented multiple risk control measures on OM tokens, including reducing leverage levels. Binance will continue to monitor leverage levels and make adjustments based on market conditions to strengthen risk control and help reduce volatility. Since January this year, Binance has also enabled pop-up reminders for OM on the spot trading page, reminding users that the token economic model of this token has undergone major changes and the supply has increased. Binance will continue to monitor developments closely and take appropriate actions to protect user interests and maintain the stability and fairness of the platform.
Disclaimer: The views in this article are from the original Creator and do not represent the views or position of Hawk Insight. The content of the article is for reference, communication and learning only, and does not constitute investment advice. If it involves copyright issues, please contact us for deletion.