The cryptocurrency market has once again witnessed a dramatic crash. The TAC token, recently added to the prestigious Binance Alpha list, lost over 90% of its value in just 15 minutes. The drop occurred on July 7, 2024, and within this short period, the asset's market capitalization shrank by hundreds of millions of dollars.
The price of TAC collapsed from around $0.06 to $0.006, triggering panic selling and a sharp surge in trading volumes. The rate later partially stabilized but remained more than 90% below the daily high. Notably, this crash happened just a week after TAC updated its all-time high at $0.067.
Strong investors, but no explanations
The TAC project is developing a blockchain compatible with the Ethereum Virtual Machine (EVM) to integrate Ethereum applications into the TON ecosystem and Telegram. At first glance, it had strong backing: the project raised about $11.5 million in investments from giants such as TON Ventures, Hack VC, Animoca Ventures, Symbolic Capital, and Spartan Group.
However, despite such serious backers, neither the TAC team nor Binance had provided an official explanation for the crash at the time of publication. No signs of a hack or network failure were detected either.
Liquidity and token concentration issues
Market analysts immediately pointed to several likely causes for the incident. The main suspicions fall on extremely low liquidity in the order book, making the asset vulnerable to large sales. Additionally, online discussions actively debate the theory of high token concentration among a small group of holders, whose actions could have triggered a cascading liquidation of positions. Although these claims lack direct evidence, they appear quite plausible.
It is also worth noting that the incident occurred against the backdrop of a recent hack of the TAC cross-chain bridge in May 2026, which resulted in investor losses of about $2.8 million. While these events are not directly related, they could have significantly undermined trader confidence in the project.
What's next?
Market participants are now awaiting official clarifications from the TAC team and data on the movement of funds from large wallets. Until information is available, the token will likely remain in a zone of extreme volatility. The main indicators for traders will be liquidity dynamics and whale activity.
Expert opinion: This case is a stark reminder that even assets with solid venture backing and listings on top platforms are not immune to "flash crashes." Until stricter mechanisms for liquidity control and disclosure of token distribution information are implemented in the early stages of listing, such stories will repeat. Investors should be extremely cautious with assets that have low market depth.