📰 The news in brief
The IoTeX network confirmed that the reason for the price appearing as 'zero' for the IOTX token on the Binance platform was a technical glitch and not a real transaction or intentional collapse.
Binance, for its part, explained that the error was due to supply and demand issues (liquidity) and old orders (limit orders) that were triggered in weak liquidity conditions, in addition to a UI display issue.
🔍 Response steps from IoTeX
The project announced a recovery plan that includes buying back tokens (buybacks) and providing liquidity support for recovery and restoring confidence.
Coordination with platforms and market makers to ensure that the order book can handle the upcoming volatility.
✅ What can we conclude?
The price appearing as '0.0000' was not a reflection of the market, but rather an incidental glitch in the system.
Operations such as triggering old orders in weak liquidity conditions can create strong false effects on the charts.
IoTeX's quick response with buying and liquidity support plans indicates that the project is working to contain the damage and maintain its credibility.
