The post Binance Alpha’s Piggycell faces scrutiny after brutal crash appeared on BitcoinEthereumNews.com. Piggycell’s PIGGY token crashed after a sudden mint‑and‑dump, raising hard questions over token controls, smart‑contract design and Binance Alpha’s listing safeguards. Summary Large, sudden PIGGY mint linked to one wallet preceded a violent intraday price collapse.​ Piggycell markets itself as a Korean DePIN power‑bank network tokenized via PIGGY on Binance Alpha.​ Lack of immediate, detailed disclosure from Piggycell or Binance fuels rug‑pull accusations and trust concerns. Piggycell’s PIGGY (PIGGY) token appears to have suffered a violent intraday collapse after a sudden spike in freshly minted tokens hit the market, triggering renewed questions over token controls and Binance’s Alpha listing standards. Onchain sleuths are now scrutinizing a single wallet that allegedly minted and dumped millions of dollars’ worth of PIGGY within minutes.​ $PIGGY RUG Over the last 10 minutes, nearly $4M worth of $PIGGY was freshly minted – and immediately dumped on the market The token collapsed -90% instantly Minting wallet:0x942f360d8a265aFcfDFa564429550DD755F96896 pic.twitter.com/5SI2NmezQO — onchainschool.pro (@how2onchain) December 5, 2025 What happened to PIGGY According to on-chain monitoring accounts, a wallet identified as 0x942f360d8a265aFcfDFa564429550DD755F96896 minted a large batch of new PIGGY tokens and rapidly sold them into the market, coinciding with a reported intraday drawdown of around 90%. Price trackers show PIGGY trading around the 0.4 dollar range recently, with sharp volatility and elevated volumes consistent with forced selling and panic exits.​ At the time of writing, there is no public statement from Piggycell or Binance Alpha addressing the specific minting wallet or explaining whether the issuance was part of a vesting schedule, treasury action, or an exploit. Without that disclosure, the incident has understandably been labeled a potential “rug” by traders watching their positions evaporate in real time.​ Who is Piggycell Piggycell is marketed as a Korean power‑bank sharing network that has been tokenized into a DePIN and real‑world asset (RWA) play… The post Binance Alpha’s Piggycell faces scrutiny after brutal crash appeared on BitcoinEthereumNews.com. Piggycell’s PIGGY token crashed after a sudden mint‑and‑dump, raising hard questions over token controls, smart‑contract design and Binance Alpha’s listing safeguards. Summary Large, sudden PIGGY mint linked to one wallet preceded a violent intraday price collapse.​ Piggycell markets itself as a Korean DePIN power‑bank network tokenized via PIGGY on Binance Alpha.​ Lack of immediate, detailed disclosure from Piggycell or Binance fuels rug‑pull accusations and trust concerns. Piggycell’s PIGGY (PIGGY) token appears to have suffered a violent intraday collapse after a sudden spike in freshly minted tokens hit the market, triggering renewed questions over token controls and Binance’s Alpha listing standards. Onchain sleuths are now scrutinizing a single wallet that allegedly minted and dumped millions of dollars’ worth of PIGGY within minutes.​ $PIGGY RUG Over the last 10 minutes, nearly $4M worth of $PIGGY was freshly minted – and immediately dumped on the market The token collapsed -90% instantly Minting wallet:0x942f360d8a265aFcfDFa564429550DD755F96896 pic.twitter.com/5SI2NmezQO — onchainschool.pro (@how2onchain) December 5, 2025 What happened to PIGGY According to on-chain monitoring accounts, a wallet identified as 0x942f360d8a265aFcfDFa564429550DD755F96896 minted a large batch of new PIGGY tokens and rapidly sold them into the market, coinciding with a reported intraday drawdown of around 90%. Price trackers show PIGGY trading around the 0.4 dollar range recently, with sharp volatility and elevated volumes consistent with forced selling and panic exits.​ At the time of writing, there is no public statement from Piggycell or Binance Alpha addressing the specific minting wallet or explaining whether the issuance was part of a vesting schedule, treasury action, or an exploit. Without that disclosure, the incident has understandably been labeled a potential “rug” by traders watching their positions evaporate in real time.​ Who is Piggycell Piggycell is marketed as a Korean power‑bank sharing network that has been tokenized into a DePIN and real‑world asset (RWA) play…

Binance Alpha’s Piggycell faces scrutiny after brutal crash

2025/12/05 21:32

Piggycell’s PIGGY token crashed after a sudden mint‑and‑dump, raising hard questions over token controls, smart‑contract design and Binance Alpha’s listing safeguards.

Summary

  • Large, sudden PIGGY mint linked to one wallet preceded a violent intraday price collapse.​
  • Piggycell markets itself as a Korean DePIN power‑bank network tokenized via PIGGY on Binance Alpha.​
  • Lack of immediate, detailed disclosure from Piggycell or Binance fuels rug‑pull accusations and trust concerns.

Piggycell’s PIGGY (PIGGY) token appears to have suffered a violent intraday collapse after a sudden spike in freshly minted tokens hit the market, triggering renewed questions over token controls and Binance’s Alpha listing standards. Onchain sleuths are now scrutinizing a single wallet that allegedly minted and dumped millions of dollars’ worth of PIGGY within minutes.​

What happened to PIGGY

According to on-chain monitoring accounts, a wallet identified as 0x942f360d8a265aFcfDFa564429550DD755F96896 minted a large batch of new PIGGY tokens and rapidly sold them into the market, coinciding with a reported intraday drawdown of around 90%. Price trackers show PIGGY trading around the 0.4 dollar range recently, with sharp volatility and elevated volumes consistent with forced selling and panic exits.​

At the time of writing, there is no public statement from Piggycell or Binance Alpha addressing the specific minting wallet or explaining whether the issuance was part of a vesting schedule, treasury action, or an exploit. Without that disclosure, the incident has understandably been labeled a potential “rug” by traders watching their positions evaporate in real time.​

Who is Piggycell

Piggycell is marketed as a Korean power‑bank sharing network that has been tokenized into a DePIN and real‑world asset (RWA) play under the PIGGY ticker. The project’s pitch is simple: users rent portable power banks from a physical network of stations, while token holders earn incentives tied to real-world device usage and uptime.​

PIGGY launched through Binance Alpha in late October, with a 100 million token supply split across BNB Chain and ICP, and an airdrop campaign designed to funnel early users via Alpha Points. Binance promoted Piggycell as a “top power bank network turned RWA & DePIN protocol,” underlining the platform’s desire to court physical‑infrastructure narratives.​

Rug pull, exploit, or mismanaged tokenomics?

The pattern desccribed by traders—sudden mint, aggressive dumping, vertical price collapse—is textbook rug‑pull or insider exit behavior, even if intent is not yet proven. Rug pulls typically rely either on hidden mint functions or concentrated insider holdings that can be offloaded onto retail without warning, leaving the market illiquid and shell‑shocked.

Source: https://crypto.news/binance-alphas-piggycell-faces-scrutiny-after-brutal-crash/

Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact [email protected] for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

Japan-Based Bitcoin Treasury Company Metaplanet Completes $1.4 Billion IPO! Will It Buy Bitcoin? Here Are the Details

Japan-Based Bitcoin Treasury Company Metaplanet Completes $1.4 Billion IPO! Will It Buy Bitcoin? Here Are the Details

The post Japan-Based Bitcoin Treasury Company Metaplanet Completes $1.4 Billion IPO! Will It Buy Bitcoin? Here Are the Details appeared on BitcoinEthereumNews.com. Japan-based Bitcoin treasury company Metaplanet announced today that it has successfully completed its public offering process. Metaplanet Grows Bitcoin Treasury with $1.4 Billion IPO The company’s CEO, Simon Gerovich, stated in a post on the X platform that a large number of institutional investors participated in the process. Among the investors, mutual funds, sovereign wealth funds, and hedge funds were notable. According to Gerovich, approximately 100 institutional investors participated in roadshows held prior to the IPO. Ultimately, over 70 investors participated in Metaplanet’s capital raising. Previously disclosed information indicated that the company had raised approximately $1.4 billion through the IPO. This funding will accelerate Metaplanet’s growth plans and, in particular, allow the company to increase its balance sheet Bitcoin holdings. Gerovich emphasized that this step will propel Metaplanet to its next stage of development and strengthen the company’s global Bitcoin strategy. Metaplanet has recently become one of the leading companies in Japan in promoting digital asset adoption. The company has previously stated that it views Bitcoin as a long-term store of value. This large-scale IPO is considered a significant step in not only strengthening Metaplanet’s capital but also consolidating Japan’s role in the global crypto finance market. *This is not investment advice. Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data! Source: https://en.bitcoinsistemi.com/japan-based-bitcoin-treasury-company-metaplanet-completes-1-4-billion-ipo-will-it-buy-bitcoin-here-are-the-details/
Share
BitcoinEthereumNews2025/09/18 08:42
Single Currency-Pegged Tokens Surge Following MiCA Rollout.

Single Currency-Pegged Tokens Surge Following MiCA Rollout.

The post Single Currency-Pegged Tokens Surge Following MiCA Rollout. appeared on BitcoinEthereumNews.com. The euro stablecoin market has rebounded in the year since the European Union’s (EU) Markets in Crypto-Assets Regulation (MiCA) came into force, with market capitalization doubling after regulations governing the tokens rolled out in June 2024, according to a new report. The “Euro Stablecoin Trends Report 2025” from London-based payments processing company Decta points a potential shift for the tokens, whose value is pegged to the single European currency and which have historically struggled to gain traction against their U.S. dollar-pegged counterparts. The swing contrasts with the 48% contraction experienced the year before, according to the report. It also contrasts with a 26% advance in total stablecoin market cap. Euro coin market cap climbed to some $500 million by May 2025, the report said, mainly due to improved issuer obligations and standardized reserve requirements. It’s now $680 million, according to data tracked by CoinGecko. Even so, that’s just a tiny fraction of the $300 billion held in U.S. dollar-pegged tokens, a market dominated by Tether’s USDT with Circle Internet’s (CRCL) USDC in second place. Growth has been especially concentrated among a few standout tokens. EURS, issued by Malta-based Stasis, posted the most dramatic gains, soaring 644% million to $283.9 million by October 2025. Circle Internet’s EURC and EURCV, from Societe Generale’s SG-Forge, also recorded significant gains. Transaction activity surged in parallel. Monthly euro-stablecoin volume rose nearly ninefold after MiCA’s implementation US$3.83 billion. EURC and EURCV were among the biggest beneficiaries, with volume expanding 1,139% and 343% respectively, driven by increased usage in payments, fiat on-ramps and digital-asset trading. Consumer awareness also appears to be climbing. Decta found substantial spikes in search activity across the EU, including 400% growth in Finland and 313.3% in Italy, with smaller but steady increases in markets such as Cyprus and Slovakia. Source: https://www.coindesk.com/business/2025/12/06/hold-euro-stablecoin-market-cap-doubles-in-year-after-mica-decta-says
Share
BitcoinEthereumNews2025/12/06 21:25