With the cryptocurrency market in free fall, the industry’s so-called alt-coins are experiencing the sharpest drops. Solana, Link and Uniswap tokens are all down 30% over the past week, according to CoinGecko data. Meanwhile, memecoins such as Dogecoin and Pepe are down 27% and 39%, respectively.
Over the past day, traders have liquidated over $1.23 billion worth of crypto, according to CoinGlass data, and Bitcoin exchange-traded funds recorded $237.4 million of outflows on Friday, the third-worst day trading since the spot ETFs opened for business in January.
