The price of STG/USDT trading pair on Binance crashed
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Around 4:40 PM on December 2nd, the price of the STG/USDT trading pair on Binance experienced a flash crash, with the price temporarily dropping to 0.0525 USDT before quickly recovering to around 0.38 USD. During this period, the trading volume also surged from the usual 100,000 STG to 1.02 million STG. The flash crash was likely due to the low liquidity of this trading pair, which led to price abnormalities when a large market sell order was placed. Previously, Binance has also seen similar incidents with other niche trading pairs such as BNB/USDC, WBTC/BTC, and ARB/TUSD.
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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