Bitget Probes VOXEL Trading Surge, Initiates Trade Reversals
20.04.2025 23:17
Bitget, a leading cryptocurrency derivatives exchange, is investigating an abnormal surge in the trading volume of VOXEL/USDT contracts. Within a 24‐hour period, VOXEL’s volume hit $12.71 billion, far outpacing Bitcoin’s $4.76 billion, which raised concerns over potential bot errors or market manipulation. The exchange confirmed that it detected unusual trading behavior and has temporarily restricted several user accounts as part of its risk control measures. Bitget has announced that the affected transactions will be reversed within the next 24 hours. Although the exchange has not yet clarified whether the discrepancy resulted from a technical glitch, such as a malfunctioning trading bot, or deliberate manipulation, the move has sparked debate among crypto community members regarding centralized risk control and its impact on platform trust. This announcement follows related news highlighting significant asset losses in altcoins, further intensifying market scrutiny.
The news is likely to result in increased short-term volatility for VOXEL. Immediate concerns over potential market manipulation and the reversal of high-volume trades could trigger a sharp, bearish correction. Historically, similar investigations in trading anomalies have led to rapid price declines as trader confidence wanes. In the longer term, if the investigation clears VOXEL of intentional manipulation, sentiment might stabilize. Key factors include the sheer magnitude of abnormal volume, the risk control measures implemented by Bitget, and the potential reputational impact on the coin, all suggesting an initial negative market reaction with a possibility for recovery if further positive developments emerge.
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