Pepe

Solana

NEXT GEN PEPE

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According to a <a href="https://x.com/coinglass_com/status/1795295975936053327?s=46&amp;t=0kEtp7M29ov5IRUYfIeIlQ" rel="noopener noreferrer nofollow">CoinGlass report</a>, Binance sees a substantial drop in trading volume, which is currently tied to trading bots that are used for stabilizing the market and liquidity. As for now, major assets are losing from 70% up to 95% of their volume, but it is not yet clear what the reason is behind the drop.
The report goes further to indicate that <a href="https://u.today/binance-web3-wallet-now-supports-simple-yield-yield-plus-earning-modules" rel="noopener noreferrer nofollow">Binance</a> currently experiences huge declines in trading volumes related to inter-trading bots that are used for market stabilization and providing the necessary liquidity. At the moment, the main assets are losing from 70% up to 95% of their volume, yet it is unclear why this volume dropped.
The drop is huge, amount-wise. On some, it is steep. For example, Pepe was down by over 97.5%, Bitcoin was down by 62% and Solana plunged by 88.9%. Obviously, it might create some issues with liquidity, if CoinGlass's report is correct.
<blockquote>
 What happened to <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Binance</a>? Have all the robots gone on strike?<a href="https://twitter.com/binance?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@binance</a> <a href="https://twitter.com/_RichardTeng?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@_RichardTeng</a> <a href="https://t.co/2bSfiGxBbn" rel="noopener noreferrer nofollow">pic.twitter.com/2bSfiGxBbn</a>— CoinGlass (@coinglass_com) <a href="https://twitter.com/coinglass_com/status/1795295975936053327?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 28, 2024</a>
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One of the potential reasons for this to unexpectedly happen is a failure of the trading bots that keep the market's liquidity balanced. They are widely used by traders with a number of functions: arbitrage, market-making and provision of <a href="https://u.today/bitcoin-plunges-as-mt-gox-starts-distributing-funds-to-creditors" rel="noopener noreferrer nofollow">liquidity</a>.&nbsp;
If some critical bot goes offline, it removes a substantial part of trading activity in a tick, causing a sudden fall in transaction volume. Such bots are used nearly on nearly every centralized exchange and are an integral part of a smooth user experience in <a href="https://u.today/xrp-on-verge-of-breakdown-heres-what-can-happen-next" rel="noopener noreferrer nofollow">trading</a>.
There can be many reasons for bots going offline — it may be a technical glitch, update or maintenance work going on at the platform; changes in the policy or restrictions of APIs by Binance may be another reason. Therefore, in this sense, the bots are going to be stopped sometimes as a consequence of changing policies or restrictions being imposed by Binance over APIs.&nbsp;&nbsp;

Binance Sees Enormous Volume Drop: What's Happening?

U_Today

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