Oh, dear! The cryptocurrency market is in a state of utter chaos, with altcoins charting painful price declines over the past day and a few hours as well. It seems the cryptocurrency world has taken a page from Oscar Wilde’s “The Picture of Dorian Gray,” as the market’s beauty is fading fast.
Bitcoin‘s landscape is not that much better even though its dominance is increasing. The asset plunged to a two-week low of under $94,000 minutes ago, leaving investors feeling as though they’ve been caught in a whirlwind of despair. 😱
Solana’s recent price performance has been particularly underwhelming. The asset, which lost some positioning to BNB, is down by 8% in the past 24 hours and more than 18% on a weekly scale. Moreover, it has shed about 40% of its value compared to the January high and is now down to its early November levels of under $170. 😒
Cardano‘s native token has also plunged hard in the past day, losing over 6% of value to under $0.75. Chainlink and Avalanche are deep in the red as well, with losses of up to 8%. Their prices are now down to $17.5 and $23.2, respectively. 💸
Ripple‘s cross-border token stole the show last week but has failed to capitalize on its momentum and has joined the pack with a 5% daily drop to just over $2.5. Ethereum was rejected at $2,800 earlier this week and is now fighting to stay above $2,600. 😞
Litecoin is among the few exceptions from the larger-cap alts as it has posted a 3% increase, which has driven it to $125. 🎉
Bitcoin’s movements are also disappointing, as the largest cryptocurrency was stopped ahead of $97,000 earlier today and pushed south to under $94,000. This became its lowest price position since the early February crash when it plunged below $92,000. 😞
The total value of wrecked positions is up to $330 million on a daily scale, according to data from CoinGlass. Over 140,000 traders have been liquidated within the same timeframe, and the single-largest order took place on Binance – it was worth $7.58 million. 💸
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2025-02-18 21:41