BTC’s Nosedive
The weekend turned out to be a lot more eventful than many expected due to the launch of two consecutive meme coins by the now First Family. The primary cryptocurrency managed to defend its position and remained relatively still above $103,000. Moreover, it jumped to over $106,000 on Sunday before it plunged hard on Monday morning to just under $100,000.
Its market capitalization stands at $2.03 trillion, while its dominance over the alts is still at 55.4%.
Alts Bleed Out
As it typically happens when BTC heads south in a violent fashion, so do the alts. Ethereum, Binance Coin, Chainlink, and Toncoin are among the least declining assets, with price losses of up to 3-4%.
In contrast, XRP is down by 6%, AVAX, XLM, and HBAR by around 8%, while SOL, DOGE, and ADA have plunged by up to 10.5%.
The biggest daily losers come from the meme coin space, with FARTCOIN dumping by 28% and TRUMP slumping by 27%.
The total crypto market cap is down by over $200 billion since yesterday to $3.670 trillion on CG.
