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The collapse of cryptocurrency devastates the market – Here are the 5 biggest losers.
The cryptocurrency market is bleeding heavily, and even major coins like Ethereum and XRP are breaking through important support levels. But some lesser-known tokens have faced even greater blows. What is happening in the cryptocurrency market? The cryptocurrency market is in a complete downturn. Ethereum has dropped below $1,800 and is currently hovering around the support level of $1,620 — down over 9% in 24 hours, with predictions pointing towards a support level of $1,500 or lower. XRP has fallen below the important level of $2 and is currently trading at $1.98, down 8.15% in just one day. Overall, cryptocurrencies are being heavily affected, with the Asian market experiencing a sell-off, capital outflows increasing, and sentiment becoming extremely pessimistic. But while major tokens like ETH and XRP are attracting attention, some other coins have even dropped more sharply — and most are going unnoticed.
Why did the cryptocurrency collapse occur? This breakdown is not natural. A few main reasons behind the chaos of the market: Strong profit-taking after months of price increases. Regulatory instability, especially in the United States, drives traders to minimize risks. Large outflows and sudden changes in large wallets. Sell-offs in Asia during low liquidity hours lead to mass liquidations. Combined, these factors are breaking support levels and causing both high and mid-cap cryptocurrencies to plummet. Top 5 cryptocurrencies that have collapsed the most Let's take a look at the biggest losing currencies of the week. Here are the 5 cryptocurrencies that have dropped the most in the past 7 days: