Summary
- Total crypto market capitalization fell 5.3% in 24 hours to $2.41 trillion.
- Bitcoin traded at $71,269, down 3.45% and near its lowest since Aug. 20.
- Monero led major-coin losses, falling 6.03% to $547.43.
Bitcoin's decline to $71,269 marks a slide of 3.45% over the past day, pulling the token toward levels last seen in late August. The drop coincided with a broader equity downturn after Nvidia shares tumbled following CEO Jensen Huang's resignation, a move that rattled tech-linked risk appetite across markets. Bitcoin's dominance of the overall crypto market stood at 59.4%, while total trading volume across all tokens reached $69.1 billion in the past 24 hours, reflecting elevated activity amid the retreat. Shares of Strategy, the bitcoin-holding company, fell separately after MSCI said it would remove the firm from its indexes.
Among major tokens tracked for trending searches, declines were widespread. Solana fell 2.04% to $81.55, Quant dropped 3.88% to $162.85, and Zcash slipped 1.87% to $952.38. Pearl, ranked 100th by market capitalization, posted the steepest decline among trending names, down 7.73% to $1.39. Pyth Network was a rare gainer in the trending list, adding 5.66% to reach $0.0671. Smaller tokens showed far more volatility: ni hao cat surged 267% to $0.015, and AudaCity rose 45.6% to $0.0222, underscoring speculative trading activity even as larger-cap assets retreated.
Monero registered the sharpest loss among widely tracked coins, falling 6.03% to $547.43, followed by Figure Heloc, down 6.09% to $1.001, and NEAR Protocol, which dropped 5.12% to $3.41. Aave and Ethena also declined, losing 4.39% and 4.31% respectively. On the other side of the ledger, gains were modest. MemeCore led advancers with a 5.45% rise to $0.825, while Stellar, Hyperliquid, Cardano and Ondo US Dollar Yield posted smaller increases below 1%.
The losses extended beyond price action into corporate and regulatory developments. Maple Finance saw its co-founder and chief operating officer depart amid internal disagreements over strategy, even as the firm's token fell despite reported revenue growth. Separately, industry groups including the Justice Department challenged an Illinois crypto tax policy in court, arguing it could violate federal law by taxing transactions regardless of profit. The Depository Trust and Clearing Corporation also disclosed plans to expand tokenized stock offerings onto the Solana network by 2027, though analysts flagged wallet restrictions that could limit adoption.
With 22,412 active cryptocurrencies tracked and dominance concentrated in Bitcoin and Ethereum, the market's near 5.3% single-day contraction reflects a pullback in risk sentiment tied to equity markets rather than a crypto-specific catalyst. Trading patterns suggest continued divergence between large-cap weakness and pockets of speculative strength in smaller tokens.