STG Coin Experiences Dramatic Price Swing on Binance: Insights into Recent ‘Wicking’ Movement

On December 2nd, the Binance exchange witnessed significant volatility in the STG/USDT trading pair. Reports indicate that the price of STG plummeted to a low of $0.0525, reflecting an astonishing 87.23% price swing within just one minute. This sudden movement was accompanied by a notable trading volume of $2.39 million within the same timeframe. As of the latest updates, STG is currently positioned at $0.3823, marking a decrease of 6.73% over the past 24 hours. It is crucial to highlight that this erratic “wicking” phenomenon did not replicate in the STG/USDT perpetual contracts available on Binance, emphasizing the unique nature of the spot market activity during this trading period.