Why JuCoin Price Crashed 70% Today?
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BTCCSquare news:
JuCoin's native token, JU, experienced a catastrophic 70% price collapse, plummeting from $24 to $7 within minutes. The crash erased billions in market capitalization as panic selling and liquidations overwhelmed the market. Over $1.39 billion worth of JU changed hands in a single day, while trading volume contracted by 23.9% to $1.03 billion—a stark indicator of evaporating liquidity.
The token's turnover ratio surged to 7.24, exposing extreme volatility in an already fragile ecosystem. Analysts observed trading patterns inconsistent with established assets like Bitcoin or Ethereum, raising concerns about potential market manipulation. JuCoin's assurance of operational normalcy and user fund security did little to stem the bleeding.
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