#DOGE BTC hovered around $97,748 per coin this morning, but suddenly fell heavily, dropping to $94,249 within minutes. The chain reaction of the price fall has plunged the entire Cryptocurrency market into crisis, with many other assets suffering even more severe blows.
XRP has fallen more than 11%, SOL has fallen 6.5%, BNB has fallen 7.48%, DOGE has fallen 8.92%, PNUT and DYDX have experienced significant declines of 22% and 21% respectively. However, the analysis found that Mainstream Tokens accounted for a relatively small proportion of the Derivatives market Settlement caused by this decline, while AltCoins accounted for nearly two-thirds of the total Settlement amount. As AltCoins were the first to be liquidated, this event highlights the importance of Risk Management strategies in the Derivatives market. According to the Altcoin Season Index (ASI) by BlockchainCenter, the index has fallen below the threshold of 75 and is currently at 69.
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#DOGE BTC hovered around $97,748 per coin this morning, but suddenly fell heavily, dropping to $94,249 within minutes. The chain reaction of the price fall has plunged the entire Cryptocurrency market into crisis, with many other assets suffering even more severe blows.
XRP has fallen more than 11%, SOL has fallen 6.5%, BNB has fallen 7.48%, DOGE has fallen 8.92%, PNUT and DYDX have experienced significant declines of 22% and 21% respectively.
However, the analysis found that Mainstream Tokens accounted for a relatively small proportion of the Derivatives market Settlement caused by this decline, while AltCoins accounted for nearly two-thirds of the total Settlement amount. As AltCoins were the first to be liquidated, this event highlights the importance of Risk Management strategies in the Derivatives market. According to the Altcoin Season Index (ASI) by BlockchainCenter, the index has fallen below the threshold of 75 and is currently at 69.