Quack AI's Sharp Price Swing
Quack AI (Q) reached an all-time high of $0.24 earlier this week, with its market capitalization climbing to nearly $1 billion and ranking among the top 100 cryptocurrencies. The token rapidly reversed course, falling to approximately $0.06 as the price surge reversed. The altcoin currently trades around $0.04, down 60% over the week but up 15% daily.
Several traders capitalized on the price movement. Trader 0xF1fE generated nearly $1 million in profit through long positions as the price climbed, while another trader profited over $17,000 by shorting at the peak.
PEPE's Weekly Gains Amid Holder Activity
The meme coin PEPE gained 6% over the past week and currently trades at approximately $0.0000052, holding a market capitalization of around $2.2 billion and ranking as the 46th-largest cryptocurrency.
TRON's Justin Sun significantly increased his PEPE holdings to 11.85 trillion coins this week, becoming the token's largest individual holder behind exchanges Binance, Robinhood, and Coinbase. A large whale also purchased more than 45 billion PEPE for roughly $206,000 during the period.
Binance Security Incident and Delistings
Binance experienced a $6.3 billion security breach, triggering approximately $1.5 billion in liquidations across the market. The industry's total market capitalization declined 3.6% over 24 hours to around $2.68 trillion following the incident.
Binance also performed wallet maintenance on the Ethereum network on October 28, briefly suspending ETH deposits and withdrawals. The company announced the delisting of 12 spot trading pairs and 9 margin trading pairs effective October 30, including trading pairs with AAVE, ATOM, CAKE, DASH, and several others.
