Binance News: GUN Token’s Volatile Launch and Confidential Letter Spark Market Speculation

In the cryptocurrency space, new developments can quickly capture the attention of investors and traders. Recently, the launch of the GUN token on Binance and a purported confidential letter have sparked significant speculation around the tokenomics of Off The Grid, a shooter game developed by Gunzilla Games.

Off The Grid Confidential Letter Sparks Speculation Around GUN Tokenomics

The shooter game Off The Grid has faced mixed reactions over a purported confidential letter sent to Gunzilla Games’ private investors regarding its GUN token. The GUN token launched on Binance this week and hit a $68 million market cap within hours, but has since fallen to $40 million. The letter references a SAFT and was copy-pasted and posted on X by a crypto trader, garnering over 115,000 views in less than a day.

Altcoins Crash as Bitcoin Slips and Liquidation Risks Rise

April 1 wasn’t a good day for altcoin holders as several altcoins, including ACT, suffered sharp crashes. ACT dropped 58% in under an hour, losing $96 million in market cap. Memecoins like HIPPO and KISHU also plunged. The sudden sell-off came after Binance changed leverage and margin tiers, triggering a $3.8 million liquidation for one whale. The broader market stayed mostly stable, but the altcoin market took a big hit. Bitcoin (BTC) and Ethereum (ETH) also faced pressure, falling sharply after disappointing U.S. economic data. BTC dropped below $83,000.