The managing partner at DWF Labs has announced that the firm is prepared to assist cryptocurrency projects that faced an unusual price drop on Binance.
Andrei Grachev, managing partner of the prominent digital asset market maker, indicated that the company stands ready to support crypto ventures affected by the abrupt market downturn on Binance.
On April 1, 2025, a number of altcoins saw a significant price decline on the Binance exchange. This included a drop for the Solana-based memecoin Act 1: The AI Prophecy, as well as DeXe (DEXE) and Kava.
Tokens like dForce, HIPPO, BANANAS31, LUMIA, and TST also plummeted, with declines ranging from 20% to 50% within a mere hour amidst a flurry of sales on Binance.
Grachev has confirmed that the UAE-based market maker and investment firm is ready to lend assistance. In his message on X, he stated:
“If your project has been affected by this unusual drop, reach out to us. We are prepared to allocate funds for a buyback and devise a recovery strategy for your token.”
Grachev mentioned that DWF Labs is committed to maintaining market stability, and supporting these projects is part of that mission.
The market decline saw the ACT token’s pairing with Tether (USDT) plunge by more than 49% in just half an hour, while the DEXE/USDT pair dropped over 23%. Additionally, the DF/USDT pairing also experienced a significant decline, falling more than 16%.
Market analysts quickly attributed the sharp drop to the execution of substantial sell orders. The swift processing of these orders within a short timeframe led to market turmoil, with spot trading volumes surging. These actions were related to Binance’s leverage positions for ACT and other perpetual contracts.
Act 1: The AI Prophecy, DeXe, and dForce have been identified as the biggest losers over the last 24 hours, currently down 46%, 22%, and 20%, respectively.