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Bullish bets on higher crypto prices lost $770 million in the past 24 hours as bitcoin fell under $100,000, leading to some majors rapidly losing momentum in a bloody start to the week.
Solana’s SOL and dogecoin (DOGE) dropped more than 10% to lead losses among majors, while ether (ETH), BNB Chain’s bnb, xrp (XRP) and Cardano’s ADA fell as much as 9%. Overall market cap fell 8.5% as of Asian afternoon hours Monday.
Tokens outside of the top twenty and across different sectors showed similar woes, with memecoin pepe (PEPE), layer 1 upstart Aptos (APT), Gate.io’s GATE and AI Agent creation platform Virtuals (VIRTUALS) losing as much as 18%.
Jupiter’s JUP was the only token in green with a 3.5% gain over the past 24 hours on the back of a decision to buy back tokens from the open market from the fees generated on its trading platform — which may equate to hundreds of millions…more
Source www.coindesk.com
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