TST Coin, listed on Binance, experienced a significant drop in early trading on August 7, 2025, drawing interest from experts and investors.
Causes of the Sudden Drop in TST Coin
Early on August 7, a long red candle appeared on TST Coin charts, signaling a dramatic price drop from $0.04960 to $0.01547 within just 15 minutes. This represented a striking 68% decrease. The surge in trading volume during this period coincided with the price decline, confirmed by a Chinese blockchain journalist. Data indicated significant liquidations of open positions in the derivatives market.
Impact of Liquidations on Open Positions
According to Coinglass data, the value of open positions in TST Coin futures trades decreased by 35% over the past 24 hours, while Binance data showed a drop exceeding 40%. This reflected the closure of numerous leveraged positions, amplifying selling pressure and exacerbating the price decline in spot trading.
TST Coin's Current State After the Drop
Immediately after the drop, the price partially recovered but remained below the $0.03 mark. Analysis of short-term moving averages suggests that selling pressure may continue. Investors are viewing the $0.020-$0.025 range as a temporary refuge, while volatility indicators indicate a wide range of fluctuations.
The plunge of TST Coin on Binance marked a significant event in the cryptocurrency space. The impact of liquidations and market volatility underscores the instability of crypto assets and the need for a cautious investment approach.
