BNB Drops Nearly 10% as Binance Alters Token Price Lows, Sparking Community Backlash

TradingKey – Binance’s revision of ATOM and IOTA’s historical price lows triggered controversy, sending BNB briefly below $1,200.

On Tuesday, October 14, Binance Coin (BNB) plunged nearly 10%, momentarily dipping below $1,200. The sharp drop followed Binance’s decision to retroactively adjust the lowest recorded prices for certain tokens:

• ATOM’s lowest price on the candlestick chart was changed from $0.001 to $1.54
• IOTA’s zero-price reading was revised to $0.0764

These changes ignited a wave of criticism across the crypto community, with many accusing Binance of manipulating historical data to downplay the severity of the “10/11 Black Swan” event.

BNB Price Chart – Source: TradingView

Just a day earlier, Binance had announced a $283 million compensation plan for affected users and clarified that the “zero prices” seen on tokens like ATOM and IOTX were merely display glitches. That announcement helped BNB surge to a new all-time high of $1,375, temporarily restoring investor confidence.

However, Tuesday’s price revisions appear to have backfired. Critics argue that altering historical lows undermines transparency and accountability, prompting some investors to sell BNB in protest.