Bloodbath in the Crypto Market: Top 5 Cryptocurrencies That Took a Massive Hit

In a recent turn of events, Binance backed out of FTX’s acquisition deal. The meltdown of FTX and Alameda Research has sent shockwaves across the industry. According to CoinMarketCap’s data, the price decline wiped away more than $100 billion in value from crypto assets.

As the crypto market remains volatile, these top cryptocurrencies have taken a significant hit.

Solana

According to price tracking platform CoinMarketCap, SOL is currently trading at $15.13, down from $22.5 in the previous 24 hours. Solana has plummeted 28.83% in one day. Trades are afraid of a potential Solana dump.

Bitcoin

As of this writing, the BTC price stands at $16,255, down from $18,366—a 11.30% drop in the last 24 hours—according to price tracking platform CoinMarketCap.

Ethereum

According to price tracking platform CoinMarketCap, ETH is currently trading at $1,162, down from $1244, a 11.12% drop in the last 24 hours.

DogeCoin

The meme cryptocurrency, DOGE, plummeted nearly 7% amid the crash. As of this writing, DOGE is trading at $0.07996, down from $0.08388 in the last 24 hours, according to price tracking platform CoinMarketCap.

Binance Coin

BNB, the native cryptocurrencies of Binace, also suffered greatly amid the news of FTX acqusition and later backing out of the same. According to price tracking platform CoinMarketCap, BNB is currently trading at $283.44, down from $314, a 9.90% drop in the last 24 hours.

Also Read: JPMorgan: Crypto Market Facing A Cascade of Margin Calls, More Bloodbath Ahead?