BULLA plunged over 50% in the past 24 hours, and Binance will activate the Last Traded Price (LTP) protection mechanism for its USDT-margined perpetual contracts.
1 hours ago
Binance announced that due to spot price deviations across multiple platforms and deposit/withdrawal restrictions, it will activate the last traded price protection mechanism for the USDT-margined BULLAUSDT perpetual contract at 14:00 Beijing time on October 28. The mechanism uses mark price smoothing to mitigate sharp price swings. The protection period will remain active until BULLA spot prices across platforms converge and a stable index price is established; a separate announcement will be released when the period ends. During the protection window, the mark price is calculated based on the contract’s recent average transaction price, with a fluctuation cap of roughly ±1% per second. The funding rate cap has been adjusted from ±2.00% to ±0.005%, and the settlement interval will not switch to hourly even if the cap is triggered. Per market data, BULLA has plunged over 50% in the past 24 hours, currently trading at $0.073.
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