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Altcoins Suffer as BTC Drops to $102K Following Trump’s Ceremony (Market Watch)
The crypto market has been hit hard today following US President Donald Trump’s inauguration ceremony, which failed to mention cryptocurrencies. The event led to a significant decline in the value of Bitcoin (BTC), causing chaos and volatility throughout the market.
As a result of this unforeseen drop, most alternative coins (altcoins) have suffered major losses. Several larger-cap altcoins have seen their values plummet by double digits. The meme coin sector has been particularly hard hit, with FARTCOIN experiencing a 28% loss and TRUMP plunging by 27%.
Ethereum (ETH), Binance Coin, Chainlink, and Toncoin are among the least declining assets, with price losses capped at around 3-4%. In contrast, XRP has suffered an 8% loss, while AVAX, XLM, HBAR, SOL, DOGE, and ADA have all fallen by up to 10.5%.
The total crypto market capitalization is now down by over $200 billion since yesterday, currently standing at $3.67 trillion on CG.
It’s worth noting that this unprecedented drop in the value of Bitcoin has had a profound impact on the broader cryptocurrency market.
Source: cryptopotato.com
