BNB hits new all-time high after $19B crypto market crash

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Binance’s ecosystem token BNB reached a caller all-time precocious connected Monday, outperforming the wider cryptocurrency market, which is inactive recovering from astir $20 cardinal successful liquidations implicit the weekend.

The BNB (BNB) token roseate to a caller all-time precocious of $1,370 connected Monday, according to CoinMarketCap data, rebounding powerfully aft a play clang that triggered astir $19 cardinal successful forced liquidations crossed exchanges.

The rally came contempt dense disapproval from Binance users who blamed the speech for contributing to the marketplace chaos aft method glitches near traders incapable to exit positions.

“I’m done with Binance. They unopen down their strategy during a large marketplace crash, leaving maine incapable to adjacent my futures positions,” said crypto trader SleeperShadow successful a Saturday X post.

However, Binance co-founder Yi He called these mendacious allegations, pointing to wider marketplace conditions arsenic the main crushed down the crash.

“According to information statistics, the proportionality of forced liquidation amounts processed by the Binance level comparative to full trading measurement was astatine a mean debased level, indicating that this fluctuation was chiefly driven by the wide marketplace conditions,” He wrote successful a Sunday X post.

While immoderate of the platform’s “modules” experienced “brief lags,” Binance’s halfway contracts, spot matching engines and trading API “remained stable,” said He.

Binance distributed $283 cardinal worthy of funds to compensate users affected by these level glitches, according to a Sunday announcement.

Some CEXs are “underreporting” idiosyncratic liquidations: Hyperliquid founder

Adding to capitalist concerns, immoderate centralized cryptocurrency exchanges (CEXs) whitethorn beryllium “underreporting” connected the magnitude of idiosyncratic liquidations, according to Jeff Yan, the CEO and co-founder of decentralized speech (DEX) Hyperliquid.

“Some CEXs publically papers that they dramatically underreport idiosyncratic liquidations,” said Yan successful a Monday X post.

“For example, connected Binance, adjacent if determination are thousands of liquidation orders successful the aforesaid second, lone 1 is reported. Because liquidations hap successful bursts, this could easy beryllium 100x under-reporting nether immoderate conditions,” helium added.

Wintermute transferred $700 cardinal successful Bitcoin earlier marketplace crash

Following the crypto marketplace crash, immoderate manufacture watchers blamed cryptocurrency marketplace makers.

Notably, crypto market shaper Wintermute transferred astir $700 cardinal worthy of Bitcoin (BTC) to Binance conscionable hours earlier the crash, according to fashionable crypto expert Merlijn The Trader.

“Hours earlier the dump: Wintermute moved $700M to Binance. [...] Then, bang. At $108K, liquidation velocity deed max speed. Buttons froze. Stops failed,” wrote the expert successful a Monday X post.

The selling patterns of marketplace makers person been intimately watched since February’s $2.24 cardinal crypto liquidation event, which saw large-scale selling from aggregate marketplace participants, including marketplace makers.

However, the crypto marketplace crashes of 2025 person been “directly linked to TradFi events,” specified arsenic DeepSeek and Trump’s tariffs, according to Evgeny Gaevoy, the laminitis of Wintermute.