Binance announced that it will support QuickSwap token swap and revaluation scheme.
After Binance's announcement, QUICK went down in price.
Binance released the announcement at 16.40. After the official announcement at 16.40, when the price increased by 34% from $56 to $74 from 14.20, it was seen that the price retreated to $66 (-11%).
The decrease in the price (about 17 percent) that rose during the day before the announcement was made, brought to mind that it may be an insider information.
Here is Binance's announcement:
“As of 2023-07-17 03:00 (UTC), Binance will suspend and remove all existing QUICK spot trading pairs (i.e. QUICK/BTC, QUICK/BUSD and QUICK/USDT) and cancel all pending QUICK spot trade orders.
From 17-2023 03:30 (UTC), deposits and withdrawals with QUICK will be suspended. Please ensure you allow sufficient time for your FAST deposit to be fully processed before this time.
Binance will reclaim all old QUICK balances and begin distributing new QUICK tokens to all eligible users at a rate of 1 old QUICK = 1,000 new QUICKs.
At 21-07-21 08:00 (UTC), trading will begin for the spot trading pairs QUICK/USDT, QUICK/TUSD and QUICK/BTC. Please note that users will enjoy zero maker fees on the QUICK/TUSD trading pair until further notice.”
