On April 1st, the previously reported heavily controlled Binance Alpha project SIREN began to plummet last night. As of press time, SIREN is at $0.4084, down 75.8% in the past 24 hours. Notably, Binance recently issued a risk warning and industry guidelines for crypto market makers, emphasizing that improper market-making activities could harm market stability and user interests.

The token has experienced multiple sharp rises and falls recently, with the latest occurring on March 28th, when it surged from around $0.8 to $1.66.

According to previous Yuren monitoring, the SIREN token is suspected to be controlled by a single market maker, holding approximately 88.5% of the circulating supply (about 644 million tokens worth approximately $1.44 billion). Some believe the related address is linked to the market-making firm DWF Labs; their public wallet holds about 3 million SIREN tokens, and shortly after recent transfers, large-scale accumulation was observed. However, this connection has not been officially confirmed.

BlockBeats reminds users that the risks associated with this token are extremely high, and users should exercise caution when investing. #Gate金手指