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Why did some altcoins on Binance crash to zero?

Some altcoins, including Cosmos’s ATOM token, briefly fell near zero on Binance amid a substantial market crash on October 10, 2025, which saw the total market capitalization drop by approximately $850 billion. Bitcoin declined by 10–15%, but altcoins suffered more, with many tokens plunging 99.99-100% on Binance. In contrast, these altcoins retained value on other exchanges, where ATOM fell 53%, IOTX 46%, and ENJ 64.5%. The crash was exacerbated by the influx of leverage trading, leading to mass liquidations. Binance's systems became overloaded, with accounts freezing and trades being delayed, leading to a lack of buy orders and temporarily showing zero prices for the affected tokens. Binance co-founder Yi He apologized for the issues, while CEO Richard Teng pledged to compensate users for losses tied to platform failures. Users are encouraged to manage their investments cautiously, as this incident underlines the volatile nature of cryptocurrency trading.

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