Crypto Markets Experience Minor Setback as Major Coins Dip, While Select Tokens Buck the Trend Bitcoin (BTC) and
Ethereum (ETH) took a slight hit, but it was the
Solana (SOL) and
XRP that really felt the sting with significant drops. However, amidst the sea of red, there were a few
rising stars like
Siacoin (SIA) and
BNB that managed to shine.
Wednesday's trading day wasn't kind to everyone, with some coins like
RON,
AR, and
OP experiencing notable declines. Over 50 digital currencies were caught in the downward spiral. But there were also some modest gains for tokens like
FET,
LEO, and even
MANTA and
SUI.
The market volatility led to over
$206 million being wiped out in derivatives, mostly from long positions. Long bets worth
$135.64 million and short positions worth
$70.39 million were liquidated. The trading volume reached a whopping
$95.579 billion, with stablecoins contributing a significant chunk.
Despite the ups and downs, most top ten stablecoins held their ground, except for TUSD, which deviated slightly from its peg. So while the market may have stumbled, it's clear that crypto is still full of surprises.
