Summary
- Total crypto market capitalization fell 3.7% to $2.6 trillion in 24 hours.
- Bitcoin dropped 2.3% to $76,754 while Ethereum fell 2.5% to $2,248.
- Zcash declined 11.2% to $1,137, the steepest drop among major tokens tracked.
The global cryptocurrency market capitalization fell to $2.6 trillion, a decline of 3.7% over the past day, as 24-hour trading volume reached $67.9 billion across more than 22,600 active digital assets. Bitcoin, which continues to account for 59.3% of total market value, slid 2.3% to $76,754. Ethereum, holding a 10.6% market share, dropped 2.5% to $2,248. The broad retreat followed a fresh wave of security concerns in the sector tied to continued fallout from a major exchange hack, with South Korean regulators pressing local platforms to tighten cold-storage requirements and investigators separately flagging a suspected $106 million theft from exchange accounts.
Zcash was the session's biggest decliner among widely tracked coins, falling 11.2% to $1,137.42, pulling back after a period of sharp gains tied to renewed interest in privacy-focused assets. NEAR Protocol dropped a nearly identical 10.6% to $3.84, landing it among both the day's worst performers and its most searched tokens, a combination suggesting traders were closely monitoring the pullback rather than ignoring it. Ethena fell 7.9% to $0.1704, rounding out the session's steepest losses.
On the trending list, Kinetiq posted the sharpest single decline at 15.2%, trading at $0.4326, while Monad fell 10.2% to $0.0172. Hyperliquid, a top-10 token by market capitalization, dropped 6% to $83.13. Search interest in NEAR and Bitcoin topping the trending charts alongside these smaller-cap tokens points to a market-wide repricing of risk rather than an isolated move in any single asset.
Gains were scarce and concentrated in smaller or non-volatile instruments. Rain led all tracked gainers, rising 10.4% to $0.00635, while TRON added 2.2% to reach $0.3209. Monero rose a modest 0.84% to $606.59, and gold-backed token Tether Gold ticked up 0.43% to $3,914.96, reflecting a limited flight toward more stable or commodity-linked holdings as riskier tokens retreated.
The decline coincided with continuing scrutiny of exchange security following a hack estimated at $6.3 billion, with North Korea denying involvement and pointing to the United States amid FBI attribution claims. Coinbase shares also faced pressure after a major bank cut its price target by half, citing slowing trading activity, while New Jersey separately dropped a staking-related enforcement order against the exchange. With no clear catalyst reversing sentiment, traders appeared to be reducing exposure broadly, pushing losses across both established and smaller-cap tokens in tandem.