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The digital currency market has seen significant declines over the past 24 hours, which is reflected in the prices of most alternative digital currencies.
The total market capitalization dropped from approximately US$3.05 to US$2.88 trillion (a loss of approximately US$200 billion), and the derivatives market liquidation amount was approximately US$2 billion.
While the market is down overall, some of the worst-hit altcoins are:
Bottom line: The current decline is caused by contagious public sentiment and shrinking liquidity, rather than a problem specific to each project, but currencies that break clear technical support or rely on hot narratives (meme/DeFi) are generally affected the most.
Also read:
RLUSD Stablecoin Reserves Exceed $1.47 Billion Within 13 Months of Launch: Details
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