Article Summary

**Binance Altcoin Flash Crash: ATOM and IOTX Hit Zero During Friday's Cryptocurrency Market Turmoil** Several major altcoins, including Cosmos (ATOM) and IoTeX (IOTX), experienced a dramatic flash crash to zero on Binance during Friday's broader cryptocurrency market selloff, while maintaining stable prices on other exchanges. This unusual trading anomaly highlights the risks of centralized exchange vulnerabilities during periods of extreme market volatility. The incident demonstrates how liquidity constraints and order book depth can create severe price discrepancies across different cryptocurrency trading platforms. While Bitcoin and other major cryptocurrencies experienced typical market corrections, these altcoins suffered complete temporary price collapses specifically on Binance's platform. This flash crash event underscores the importance of diversified trading strategies and cross-platform price monitoring for cryptocurrency investors. The fact that ATOM and IOTX maintained their value on alternative exchanges suggests this was an isolated technical issue rather than fundamental blockchain problems. Cryptocurrency traders should remain vigilant about exchange-specific risks and consider using multiple platforms to avoid such dramatic price manipulation events that can trigger stop-losses and liquidate leveraged positions unexpectedly.