#MostRecentTrade #BinanceLaunchpoolSXT
Space and Time (SXT) Token Plunges 70% Amid Pre-Launch Controversy
Binance Launchpool’s 48th project, Space and Time (SXT) , faced a storm of criticism as its token price crashed "$70% " from its pre-market peak of $0.56 ahead of its May 8 listing. The Web3 data warehouse project, backed by Microsoft and Chainlink, is now at the center of a debate over its viability .
Why the Drop?
Pre-Market Volatility: OTC trading on Gate.io saw speculative swings, with short-sellers targeting SXT’s high FDV ($10B) and inflation risks.
Skepticism Over Proof of SQL: Critics question whether its zero-knowledge data verification can compete with rivals like The Graph .
Unlock Pressure: Monthly token releases (~150M SXT) could further depress prices short-term .
Binance’s Role: Despite the backlash, SXT’s Launchpool rewards (125M tokens) attracted stakers, highlighting Binance’s influence in onboarding new projects .
