Over the past 24 hours, the cryptocurrency market has seen an abnormal plunge in a series of altcoins on Binance. Tokens including HIFI, BMT, CHESS, SOON, and OBOL have all recorded significant declines, with the sharpest drop reaching up to 37%. Most of these tokens are listed on Binance Alpha.

This sudden downturn occurred without any clear negative news from the projects themselves, leaving the investor community confused and raising concerns about potential unusual trading activity or leveraged liquidations on the exchange.