DeFi
Bitcoin collapses by $2,000 in 60 minutes
Ether falls below $3,000 as leveraged liquidations approach $150 million.
Crypto markets fell sharply on Friday, retracing gains from yesterday’s rate cut rally driven by optimism.
Bitcoin fell 3% in the span of an hour, while Ether plunged below $3,000. Solana SOL fell 4% to $147.
Among the top 100 cryptocurrencies by market capitalization, the biggest losers are liquid staking leader Lido (LDO) and Bittensor (TAO), the decentralized AI project. Both are down about 7% in the last 24 hours.
Meanwhile, Akash Network (AKT) and Telegram-affiliated TON are the best performers, up 13% and 8%, respectively.
The selling appears to be limited to cryptocurrencies at the moment as major stock markets and the US dollar are trading flat on the day.
Nearly $150 million in leveraged positions were liquidated in the past 24 hours, with just over half in the past four hours, according to CoinGlass.