The cryptocurrency market as a whole suffered heavy losses.
The fall was led by Solana, Avalanche and Dogecoin.
Fear gripped investors amid the convergence of cryptocurrencies and traditional markets.
This week, the #cryptocurrency market experienced a significant drop: all ten of the most popular digital assets suffered losses over the past seven days. Solana's decline was particularly sharp, falling 22% and topping the list of the worst cryptocurrencies.
Following Solana was Avalanche, whose value fell by 19%; Dogecoin was also hit hard, falling by 18.3%. #Cardano also could not escape the bearish trend, falling by 13.2%. Even market heavyweights #BTC and #BTC could not escape the sell-off, losing 10.6 % and 10 % respectively.
#XRP and BNB also faced problems, falling by 9.8 % and 9.2 % respectively. Tongcoin and Tron had smaller drops of 8.2 and 6.5 percent, but still significant losses for the two cryptocurrencies.
the broader cryptocurrency market repeated this downward trend, with smaller coins and tokens suffering even more severe losses. In just a few days, market capitalization fell by $260 billion.
the cryptocurrency market's decline was compounded by the decline in the broader financial markets, with technology stocks and the S&P 500 index falling significantly. This correlation underscores the growing influence of traditional financial markets on the cryptocurrency world.
the last week, all 10 major cryptocurrencies lost value. In percentage terms, the results are summarized below:
This is just a snapshot of the state of the market at the time of writing. Since cryptocurrency prices are constantly fluctuating, it is important to do your own research before making an investment decision. Negative market sentiment amplified by fear-driven selling can lead to exaggerated price declines.
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