The coin, which was hit by the Black Friday crash on October 10, suffered its sharpest decline this year. Prices across the exchange plummeted within minutes as billions of leveraged positions were wiped out, triggering forced liquidations and flash crashes.
Most cryptocurrencies fell between 10% and 60%, but some tokens were hit even worse, even flashing values near zero before stabilizing. Their wild swings demonstrate how fragile liquidity can be during a panic, and how quickly sentiment can change once the dust settles. I have listed three such tokens and added additional mentions as you read to the end.
Cosmos (Atom)
Cosmos (ATOM) was one of the coins hardest hit by the Black Friday crash. On Binance, the price of ATOM briefly showed $0.001 (down 99.9%). This is a “false print” allegedly caused by a tick size glitch that caused widespread panic.
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“Historical limit orders (some dating back to 2019, such as IOTX, ATOM, etc.) remained open on the platform.During extreme market declines and a lack of buy orders, sell orders continued to be executed against these long-standing limit orders, causing the token price to temporarily plummet,” Binance said.
Based on Coinbase data (CEX not affected by the glitch), ATOM fell from $4.19 to $2.99, a real intraday drop of 32%.
ATOM’s structure remains bearish on the daily chart, trading against the downtrend line while facing resistance at key Fibonacci levels. The current trendline base is at $3.35, which ATOM needs to defend.
A daily close above $3.64 would be the first sign of recovery, with the next major hurdles at $4.11 and $4.45. A move above $4.45 could result in a bullish reversal in the trend (becoming bearish above the trend line) and a move towards $5.32.
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However, a break below $3.35 could cause the price to pull back toward $2.87 (the last benchmark before a deeper correction), extinguishing the rebound.
Despite the weaknesses, there are positive differences in play. From September 27th to October 11th, the price of ATOM hit a low, while the Money Flow Index (MFI), which tracks the speed and volume of money flowing in and out, hit a low. This is a classic bullish signal that suggests new money is flowing into the market even though prices remain under pressure.
This suggests quiet accumulation, likely retail and spot led, as traders bet on a slow recovery after the Black Friday crash.
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IoTeX (IOTX)
IoTeX was another token that briefly hit zero (100% decline) during the October 10 Binance crash, and was one of many “zero” records to surface during the liquidation turmoil.
“Certain trading pairs (such as IOTX/USDT) have recently reduced the number of decimal places allowed for the minimum price change, causing the price displayed in the user interface to be zero. This is a display issue and not because the actual price is zero,” Binance explained.
However, the actual trading data from Gemini’s IOTX/USD chart gives a clearer and more reliable picture of what actually happened, and likely reflects the token’s actual market movement on that volatile day.
Based on Gemini data, IOTX fell from $0.024 to $0.018, marking a real 25% intraday decline before stabilizing towards the close. The sharp move reflected broader pressure on small- and mid-cap tokens as liquidity evaporated across exchanges.
IOTX is currently trading within a descending triangle, with support/resistance levels acting as a base and a breach of each level qualifying as a breakdown. The current base of the triangle is $0.018, which IOTX needs to protect.
The token is holding near $0.020, facing resistance at $0.024 (previous support) and a stronger barrier near $0.027. A daily candlestick close above $0.027 could confirm a breakout and pave the way to higher levels, while a decline below $0.018 is likely to invalidate any recovery attempt.
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Chaikin Money Flow (CMF), a metric that tracks money flowing into and out of assets, provides the most optimistic signal at the moment. Since October 7th, CMF has risen sharply even as prices have fallen. This positive divergence often suggests buying from large holders or whales that are accumulating during bearish times.
In other words, although the trend of IoTeX remains bearish, the improvement and steady accumulation of CMF indicates quiet confidence among leading companies. If the price action is confirmed with a breakout above $0.027, IoTeX could be poised for a rebound despite taking a big hit during the Black Friday crash.
Engine (ENJ)
Enjin (ENJ) was one of the tokens that briefly flushed 0.00001 on Binance during the October 10 crash, one of the most extreme “zero print” cases of the day.
However, based on OKX’s ENJ/USDT chart, the actual decline was from $0.063 to $0.021, a drop of almost 67%, making it one of the steepest declines among major gaming-focused tokens.
After that crash, ENJ rebounded strongly, rising from $0.021 to around $0.048, effectively doubling its price within a few days. Still, the economic recovery faces severe challenges ahead. The first major resistance lies at $0.054, followed by a high supply zone around $0.060-$0.074, where multiple previous gains were rejected. A clearing of these levels will confirm that the bullish momentum continues.
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Conversely, a decline below $0.048 could open downside targets towards $0.041 and $0.034, suggesting that buyers need to defend the current levels before calling it a solid reversal.
One important indicator to keep an eye on is the Bull Bear Power (BBP) indicator, which shows the balance between buying and selling strength. BBP has started to rise after hitting its lowest level this year, indicating that bearish pressure is waning. However, it remains in the negative zone, meaning that the bears still maintain partial control for now.
So while Enjin’s recovery from its crashing lows shows resilience, the recovery is not yet complete. Confirmation of above $0.054 would lead to a more definitive bullish reversal in sentiment, but another rejection could cause ENJ to remain in the lower band.
Special Notes: Avalanche (AVAX)
Unlike other companies, Avalanche (AVAX) did not have any problems with Binance. That 70% crash was real. The token plummeted from pre-crash levels to a low of $8.53 before rebounding sharply.
Since then, AVAX has recovered to around $22, supported by steady whale accumulation.
Chaikin Money Flow (CMF) continues to rise above zero, indicating consistent purchasing power. To extend this Black Friday crash recovery, AVAX price needs to break above $22 and above $25, with $30-$36 emerging as the next major resistance zone.
