Binance Pledges New Controls After 99% ‘Flash Crash’ in Polkadot Futures

[Tanimariya]

A single large sell order appears to have sent prices for trading contracts on polkadot tumbling from about $33 to 25 cents in less than a minute.

Binance, one of the world’s biggest cryptocurrency exchanges, said it would consider new marketplace controls after a single large order apparently triggered a flash crash early Friday in polkadot (DOT) trading contracts.

Prices for the quarterly perpetual-futures contracts on polkadot were trading around $33.25 right around 1:45 coordinated universal time (8:45 p.m. EST), when suddenly they tumbled 99.2%.
The contracts fell as low as $0.25 in less than a minute, before quickly bouncing back to around $33.
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