PANews reports on April 1st that according to the analysis by @CnmdRain, co-founder of BlockCred.AI, the recent sharp decline of meme coins like ACT is not due to Wintermute's liquidation, but rather a chain reaction caused by Binance's adjustment of contract position limits and leverage multiples. Market makers were forced to close long positions due to leverage restrictions, leading to a drop in contract prices. Arbitrage robots amplified the spread, causing significant selling pressure in the spot market, ultimately triggering a sell-off in both spot and contract markets and market panic.