Airgo has fallen more than 70% since the debut about Binance-Futures, which means that accusations of community members suspect that market manipulation and coordinated sale can cause the steep decrease.
Airgo (Airgo) fell at an intraday depot of $ 0.12 on April 17, afternoon Asian time, which reduced market capitalization from $ 307 million to almost $ 78.5 million from the moment of press. The daily trade volume rose by 88% in the past day and fluctuated more than $ 1.37 billion.
The drop followed an almost two weeks of upward trend that started on April 6, with Airgo yielding more than 1,200% to a record high above $ 0.658 on 16 April, before he crashed about 75% the next day.
Airgo Price started refueling less than 12 hours after the list on Binance Futures, making the trade of the Airgo/USDT pair possible with a maximum of 15x leverage.
Some members of the community on X have questioned the timing of the crash, especially in view of the recent Binance decision to remove the Airgo spot trade couple on March 28, as part of a routine activity assessment process, the Exchange said at the time.
Despite the deletion, Airgo rose more than 10x in the coming weeks. Then, only a few hours after Binance had re-introduced token on his Futures platform, the sharp sale began, which fed further about the series of events.
“Binance plays a dirty game again,” said Analysts at Crypto Gem indicate, binance criticize because they only intervene when there is a hype to take advantage and to prove the last step that it is the “greatest fraud ever”.
Airgo Futures saw heavy downward pressure on large derivatives platforms, where most positions are leaning in the midst of sharp drops in open interest and negative financing percentages on almost all exchanges.
On Bybit, the open interest rate fell more than 53% to $ 36.48 million, while Gate.io and Mexc fell from more than 50% and 71% respectively. The financing percentages were very negative across the board -3,000%, Binance on -2,000%and Bitunix on -1,600% -which look out that traders were broadly positioned for a price decrease.
In a April 17th rack Part of X, the Airgo team acknowledged the worries around extreme volatility, so that they were not informed prior to the re-listening of the token about Binance-Futures.
It is said that the Binance team has asked Airgo to be on site again to minimize extreme price fluctuations, but has not received any response from the stock market so far.
“We are not there for short-lived pumps-we are to build here,” concluded the mail.
In the midst of this background, the concern about the token distribution of Airgo also came into the picture. Altcoin Gordon, a good follow-up trader on X, pointed More than half of the Airgo range is held from this by the team, early investors and advisers, something that, according to them, increases the risk of insider-driven price movements.
He also compared the structure of Airgo with OM, which recently collapsed by more than 90% on 13 April after some major token holders reportedly moved funds to exchanges, to cause a cascade of forced liquidations and to worry about centralized supply risks.
