After a disastrous 2022, the year 2023 has generally been a year of increases for cryptocurrencies. In particular, the market saw a rapid recovery following the emergence of fake ETF news, especially in the last quarter, with successive rises. As of January 1st, investors were focused on the cryptocurrency market, and an incident in the early hours of the night dropped like a bomb in the middle of the crypto world. In addition, Binance Launchpool coins, which have been frequently mentioned lately, also took a hit.
Current Status of TRB Coin
While the entire market was quiet on December 31st, TRB stood out and started to rise around 5:00 PM Turkey time. The rise was much sharper than expected. In approximately 8 hours, it jumped from $270 to over $600. On the day when everyone was waiting for the annual close of Bitcoin, all attention turned to TRB after this event.
The whole incident happened after this point, and the altcoin plummeted from the $600 level to $226 within minutes at 00:00 Turkey time. This unexpected event caused great surprise among investors and led to significant reactions.
The drop didn’t stop there and deepened to $120, creating a shock effect on TRB investors. As of the time of writing, although it is far from its peak level, TRB has somewhat recovered from $120 to $208.
While it is unknown what caused this event, it can be cited as a prime example of the high volatility and speculation in the market. What actions investors will take in the coming days remains a matter of curiosity.
Binance Launchpool Coins Falling
Another significant development today was the drop in tokens associated with Binance Launchpool events, which had caught the attention of investors over the past month. Notable declines were seen specifically in NFP, JTO, and ACE in recent weeks.
Firstly, if we talk about NFP, it hosted a price movement up to $1.28 when it was launched on December 27th. The following four-day period ended in disappointment for investors.
The altcoin lost 32% of its value in just four days and experienced an 18% loss in the last 24 hours. As of the time of writing, NFP is trading at $0.79132 and is second on Binance’s list of biggest losers. A 49% drop in the 24-hour trading volume indicates a significant decrease in interest in the altcoin.
Secondly, JTO, compared to NFP, has a more positive outlook. The altcoin, which experienced a 16% drop within 24 hours, is priced at $1.8447.
Despite the price drop, it is worth mentioning that JTO has seen an 11% increase since its launch. Interestingly, JTO’s trading volume has increased by 138% in the last 24 hours.
Lastly, ACE, which opened for investment on December 18th, experienced a sharp drop from its $17 level in the following days and was trading at $9.2 at the time of writing.
This was indicative of a 10.35% drop in ACE in the last 24 hours. Like JTO, despite the price drop, ACE attracted attention with a high trading volume. ACE’s trading volume increased by 91% in the last 24 hours, reaching $88 million.
Overall, while it is unknown why Binance Launchpool tokens are falling, only NFP has had recent news. An issue with NFP’s Web 2 wallet was reported by the team, and assurances were made regarding the funds.
