The post Saros (SAROS) Faces 70% Crash: What Caused the Sudden Price Drop? appeared on BitcoinEthereumNews.com. The cryptocurrency Saros (SAROS) experienced a dramatic 70% price drop on August 24, plummeting to its lowest level since April 2025.  The steep decline, which briefly erased months of gains, has sparked widespread concern among investors. Some market watchers have even drawn parallels to the troubled trajectory of MANTRA (OM). Why Did SAROS Token’s Price Crash?  For context, Saros is a decentralized finance (DeFi) platform built on the Solana (SOL) blockchain. It combines a wide range of services into a single ecosystem, including trading, staking, yield farming, launchpad participation, and more.  Its native utility token, SAROS, powers governance, staking, liquidity incentives, and more. The token is deployed on both Solana and Viction. The altcoin, which has a market cap of $922 million, has been on a predominantly upward trend for months and reached an all-time high (ATH) on August 04.  However, yesterday’s 70% crash hindered this upward trajectory, pulling the price shortly back to four-month lows. Market data showed that SAROS’ price dipped to $0.109, a level last seen in April. SAROS Price Crash. Source: TradingView Nonetheless, the dip was brief. SAROS bounced back and reversed its losses. At the time of writing, it was trading at $0.35, down 5.3% over the past day.  Thanh Le, founder of  Saros, addressed recent price volatility. He explained that the sharp moves in SAROS resulted from leveraged traders reducing their positions on centralized exchanges, which caused open interest to fall sharply. “Based on our ongoing investigations and available data, we believe this is a market-driven adjustment, potentially involving a large, highly-leveraged position reducing its exposure on centralized exchanges (CEX). Prior to the movement, open interest was approximately 90M SAROS, according to exchange data, and it has since decreased to around 20M SAROS,” he said. He stressed that neither the team nor long-term investors… The post Saros (SAROS) Faces 70% Crash: What Caused the Sudden Price Drop? appeared on BitcoinEthereumNews.com. The cryptocurrency Saros (SAROS) experienced a dramatic 70% price drop on August 24, plummeting to its lowest level since April 2025.  The steep decline, which briefly erased months of gains, has sparked widespread concern among investors. Some market watchers have even drawn parallels to the troubled trajectory of MANTRA (OM). Why Did SAROS Token’s Price Crash?  For context, Saros is a decentralized finance (DeFi) platform built on the Solana (SOL) blockchain. It combines a wide range of services into a single ecosystem, including trading, staking, yield farming, launchpad participation, and more.  Its native utility token, SAROS, powers governance, staking, liquidity incentives, and more. The token is deployed on both Solana and Viction. The altcoin, which has a market cap of $922 million, has been on a predominantly upward trend for months and reached an all-time high (ATH) on August 04.  However, yesterday’s 70% crash hindered this upward trajectory, pulling the price shortly back to four-month lows. Market data showed that SAROS’ price dipped to $0.109, a level last seen in April. SAROS Price Crash. Source: TradingView Nonetheless, the dip was brief. SAROS bounced back and reversed its losses. At the time of writing, it was trading at $0.35, down 5.3% over the past day.  Thanh Le, founder of  Saros, addressed recent price volatility. He explained that the sharp moves in SAROS resulted from leveraged traders reducing their positions on centralized exchanges, which caused open interest to fall sharply. “Based on our ongoing investigations and available data, we believe this is a market-driven adjustment, potentially involving a large, highly-leveraged position reducing its exposure on centralized exchanges (CEX). Prior to the movement, open interest was approximately 90M SAROS, according to exchange data, and it has since decreased to around 20M SAROS,” he said. He stressed that neither the team nor long-term investors…