news 
Volatility Strikes: STORY (IP) and ACT Tokens Suffer Sharp Drops Amid Heavy Liquidations
The crypto market has been rocked by sudden and intense price swings, with two tokens, STORY (IP) and ACT, taking a sharp hit in value. The recent events have left many wondering about the implications for the broader market.
On April 14, the prices of both IP and ACT plummeted, sending shockwaves throughout the crypto community. In a matter of hours, STORY (IP) dropped by approximately 21.5%, plummeting from $3.90 to a low of $2.90 before recovering slightly to close around $4.00. Meanwhile, ACT experienced an even more dramatic drop, falling roughly 27% within a short time frame.
The sudden and unrelenting price swings have raised concerns about the overall stability and sentiment of the market. The volatility has caused liquidated positions exceeding $2 million in value to vanish in just 24 hours. This extraordinary event has left many traders scrambling for answers, as both longs (1.17M) and shorts (902K) were caught off guard.
The data from on-chain and exchange sources reveals that the sudden and brutal correction sent ripples of activity across major exchanges like Binance Futures and OKX. It is essential to remember that trading in futures and margin can lead to both tremendous gains and catastrophic losses when volatility kicks up.
While both IP and ACT have somewhat stabilized after their sharp declines, uncertainty prevails. The market will closely watch the next few days for any signs of renewed volatility. If this occurs, it is expected that derivatives-heavy platforms like Binance Futures will play a significant role in determining the broader crypto market’s trajectory.
In summary, these events serve as yet another cautionary tale about the unpredictable nature of digital assets and the importance of risk management.
Source: https://nulltx.com/volatility-strikes-story-ip-and-act-tokens-suffer-sharp-drops-amid-heavy-liquidations/
