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Addressing recent market dynamics on our native token $VRA
Earlier today, we witnessed a sudden and sharp drop in the price of $VRA, which understandably caused concern among some of our holders. We’d like to clarify the facts of what occurred and provide a complete statement without contributing to unnecessary speculation or confusion.
@okx published an announcement regarding the delisting of margin contracts, including VRA and MEMEFI.
This information potentially led to immediate panic, particularly in a low-liquidity margin environment, which caused the price to drop abruptly.
Market making algos across markets reacted to this volatility by selling off VRA on spot markets to match the rapid futures price drop.
As a result, cascading stop-loss orders were triggered across trading platforms, amplifying the downward momentum.
This confusion led to further panic among unaware traders, causing wider concern.
Importantly, this was not an issue related to the fundamentals of Verasity or its operations. Our business, team, and roadmap remain solid. No technical exploit, token change, or business failure occurred. This was purely the result of market dynamics around a third party margin delisting process.
Additionally, we maintain healthy and continuous communications on the matter with our friends over at OKX, and spot trading remains untouched on their platform.
Lastly, as always, we remain focused on delivering meaningful technology, onboarding partners, and growing Verasity’s presence in the digital ad space and our long term vision.
#MedusaOnMetis 🐍
The only OFFICIAL @MetisL2 Backed Meme Coin. Medusa can change your life, or turn you into 🪨 Choose your poison
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