AERGO price crashes on market manipulation speculation
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The price of AERGO cryptocurrency has come tumbling down, plummeting over 70% within hours of its listing on Binance Futures on April 16, 2025.
The token, which had surged 1,200% since April 6 to an all-time high of $0.6582, fell to an intraday low of $0.1202.
Although the token has rebounded to around $0.16 as per CoinMarketCap data, the dramatic crash has slashed its market capitalization from $307 million to $79.01 million at press time, erasing weeks of gains.
The token’s trading volume, has spiked 150% to $1.76 billion in 24 hours, reflecting the intense speculative activity surrounding the crash.
What happened to AERGO?
AERGO’s plunge has sparked widespread speculation, with community members on X pointing fingers at possible market manipulation.
The timing of the drop, just 12 hours after Binance introduced AERGO/USDT futures with 15x leverage, has fueled these accusations.
Adding to the suspicion, Binance had delisted AERGO’s spot trading pair on March 28, only to reintroduce it on the futures platform during peak market hype.
Analysts like Crypto Gem Signals have labeled Binance’s actions as opportunistic, accusing the exchange of profiting from orchestrated sell-offs.
Crypto Gem Signals’ views were echoed by Anastasiia Bobeshko, a CMO, COO & technology evangelist, who also views Binance relisting of AERGO as suspicious.
The Aergo team, caught off guard by the futures listing, issued a statement on April 17 clarifying they were not informed in advance. They have since urged Binance to reinstate AERGO’s spot trading to stabilize prices, but the exchange has yet to respond.
Meanwhile, on-chain metrics paints a grim picture, with open interest dropping sharply across platforms like Bybit (53%), Gate.io (50%), and MEXC (71%).
Negative funding rates, ranging from -3.000% on Bybit to -1.600% on Bitunix, signal overwhelming bearish sentiment among traders.
Concerns over AERGO’s token distribution have also surfaced, with trader Altcoin Gordon noting that over 50% of the supply is held by the team, early investors, and advisors.
This centralized control raises fears of insider-driven price swings, drawing comparisons to the recent 90% collapse of Mantar (OM) on April 13.
Adding to the complexity, AERGO’s contract address recently migrated to 0x91af0fbb28aba7e31403cb457106ce79397fd4e6, a technical shift that may have contributed to market uncertainty.
Aergo team unshaken by the crash
Despite the turmoil, the Aergo team emphasized their commitment to long-term development over short-term price pumps in their statement.
The team acknowledged that abrupt surges followed by sharp downturns are an inherent aspect of the cryptocurrency market and maintained that their focus remains firmly on long-term growth rather than short-term price movements.
The team said that their ongoing efforts are centered on expanding Layer 2 capabilities to scale the network and accommodate advanced, AI-integrated workloads, while also fostering institutional adoption through strategic partnerships and infrastructure aligned with real-world standards.
However, for now, AERGO’s future hinges on whether the team can restore market confidence and secure a more balanced trading environment even as the broader crypto community continues to debate whether Binance’s actions constitute manipulation or simply reflect the volatile nature of leveraged trading.
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