According to Wu's report, around 16:40 on December 2nd, the STG/USDT trading pair on Binance experienced a flash crash, with the price dropping to as low as 0.0525 USDT before quickly recovering to around 0.38 USDT. During this period, the trading volume surged from the usual 100 thousand STG to 1.02 million STG. The cause of the flash crash may be attributed to the low liquidity of the trading pair, resulting in price anomalies when a large market sell order was executed. Similar situations have occurred previously with lesser-known trading pairs such as BNB/USDC, WBTC/BTC, and ARB/TUSD on Binance.

USDT

According to Wu, around 16:40 on December 2, the price of the STG/USDT trading pair on Binance experienced a flash crash, dropping to as low as 0.0525 USDT before quickly recovering to around 0.38 USDT. During this period, the trading volume surged from the usual 100 thousand STG to 1.02 million STG. The cause of the flash crash is likely due to the low liquidity of the trading pair, which resulted in price anomalies when a large market sell order was placed. Similar situations have previously occurred with less popular trading pairs on Binance such as BNB/USDC, WBTC/BTC, and ARB/TUSD.

The price of the STG/USDT trading pair on Binance briefly crashed.