Digital asset markets experienced significant downward pressure as major cryptocurrencies posted substantial losses. Bitcoin declined 3% to $104,500, while Ethereum fell 5% to $3,520. Binance Coin dropped 6% to $955, and Solana led the downturn with an 8% slide to $162. Despite the broader market weakness, several altcoins demonstrated remarkable resilience. Decred surged 111%, Dash climbed 50%, and Internet Computer advanced 30%, positioning them as the day’s top performers.
The market turbulence triggered substantial liquidations exceeding $1.2 billion, with long positions accounting for approximately 90% of the losses. This volatility pushed the Crypto Fear & Greed Index into ‘Extreme Fear’ territory, reflecting heightened investor anxiety.
In security developments, Balancer suffered a $128 million exploit following a vulnerability in its protocol, prompting Berachain to temporarily suspend its blockchain operations as the incident affected multiple pools across Ethereum and connected networks.
Industry developments included Hollywood.com’s partnership with Crypto.com to create an entertainment-focused prediction market, while Ripple expanded its U.S. operations with new prime brokerage services for digital assets. Strategy announced plans to issue 3.5 million shares of its 10% Series A Perpetual Stream Preferred Stock, with proceeds designated for Bitcoin acquisitions.
Regulatory actions saw U.S. prosecutors seeking maximum sentences for Samurai Wallet founders, and FTSE Russell revealed plans to publish its global market index data directly on blockchain through Chainlink integration.
