The cryptocurrency market is once again demonstrating its volatility: the TAC token lost more than 90% of its value in less than 15 minutes. The asset, which is traded on Binance Alpha and Binance Futures platforms, experienced a sharp decline that caused shock among market participants.
Recall that TAC is the native token of the TON Applications Chain network — an EVM-compatible solution developed for the TON ecosystem. The project was announced in 2023, and its listing on Binance took place in July 2025. TAC's institutional investors include well-known venture capital funds such as TON Ventures, Hack VC, Animoca Ventures, Symbolic Capital, and Spartan Group, highlighting the high level of trust in the project at its launch stage.
The reasons for such a sharp crash remain unclear for now. However, such movements are often associated with mass sell-offs by large holders, liquidations of leveraged positions, or technical glitches on exchanges. Given that the token is traded on Binance's futures market, it is possible that a cascade of liquidations exacerbated the situation, creating a domino effect.
My analysis: Such events are a harsh reminder of the risks associated with trading low-liquidity tokens in their early stages. Even with support from solid funds, market depth may be insufficient to absorb large orders. Investors should exercise extreme caution and diversify risks, especially when dealing with assets that have recently been listed.