Analysis: Poor altcoin liquidity sees 1INCH plunge 7% on sub-$2M sell order

Liquidity in the altcoin market has severely deteriorated, according to an analysis by AmberCN. The firm noted that 1INCH, considered a major altcoin with a market capitalization of approximately $180 million, plunged 7% following a single sell order of less than $2 million. The token's decline has since widened to 13%. AmberCN also highlighted that the 24-hour trading volume for the 1INCH/USDT trading pair on Binance is only $1.5 million. Of this total, $1.16 million is attributed to arbitrage bots, placing the actual liquidity at around $340,000.