What to know:
Well, well, well, if it isn’t the crypto markets throwing a good old-fashioned temper tantrum! 😤 Looks like the bulls got a little too excited and ended up losing a cool $770 million in the past 24 hours. Ouch, that’s gotta hurt! 🤕
Solana’s SOL and the ever-so-lovable dogecoin (DOGE) led the charge, plummeting more than 10% to make the rest of the majors look like a bunch of wimps. 😂 Ether (ETH), BNB Chain’s bnb, XRP, and Cardano‘s ADA weren’t far behind, dropping as much as 9%. Overall, the market cap took an 8.5% nosedive, leaving investors feeling like they just got hit by a crypto-powered wrecking ball. 💥
But wait, there’s more! Tokens outside the top twenty weren’t spared either, with memecoin pepe (PEPE), layer 1 upstart Aptos (APT), Gate.io’s GATE, and AI Agent creation platform Virtuals (VIRTUALS) losing up to 18%. Ouch, that’s gotta sting! 🔥
The only token that managed to escape the bloodbath was Jupiter’s JUP, which gained a whopping 3.5% thanks to a decision to buy back tokens from the open market. 🤑 Looks like someone’s got a little crypto-powered magic up their sleeve!
As for Bitcoin, it slumped under $99,000 as traders took profits, tracking losses in U.S. stock futures. Apparently, the cost and capabilities of China-based DeepSeek are causing quite a stir, threatening the otherwise costly narrative spearheaded by OpenAI. 🤯
The largest single liquidation order happened on HTX, a tether-margined BTC trade valued at $98.4 million. Ouch, that’s gotta hurt! 😖 Looks like the crypto market’s high volatility is keeping traders on their toes, with liquidations being a common occurrence. 🎢
But hey, maybe this is all just a big test to see who’s got the guts to stick it out in this wild and wacky world of crypto. 💪 Who knows, maybe the contrarian traders will see this as a buying opportunity and ride the wave back to the top. 🏄♂️
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2025-01-27 10:58