🩸🩸🎈🎈 Reason for the collapse

🎈🎈 Binance Futures is scheduled to close all positions and automatically settle the AIAUSDT perpetual contract $AIA on USDⓈ-M on 2025-12-11 12:15 (UTC). After the settlement, the contract will be delisted. Users are advised to close any open positions before the cancellation time to avoid automatic settlement. As of 2025-12-11 11:45 (UTC), users will not be able to open new positions for the specified contract.

During the final hour leading up to the scheduled settlement time, the futures contract insurance fund will not be used to support the liquidation process for the futures contract. Any liquidation that occurs during this period will be executed as a single immediate or cancel (IOCO) order, which will be dumped into the market in a single attempt. If the execution of IOCO leaves sufficient assets in the user's account to meet the required maintenance margin, the liquidation will stop. However, if IOCO fails to fully reduce the position to meet maintenance margin requirements, any incomplete portion will be resolved through the automatic deleveraging (ADL) process. Users are strongly advised to monitor and manage open positions during this final hour due to potential increased volatility and reduced liquidity.

$AIA