What happened?
Following a market-wide downturn, major cryptocurrencies experienced drop in prices with Bitcoin down by 0.5%, Ethereum down by 1%, and Solana down by 4%. This led to the market cap retreating to $3.98 trillion over the past 24 hours. However, a few exceptions such as the newly launched DEX token Aster ($ASTER) surged after receiving an endorsement from Binance founder Changpeng Zhao.
Who does this affect?
This downturn affects all cryptocurrency investors, traders, and owners globally. Particularly, it impacts those holding Bitcoin, Ethereum, Solana, XRP, and Pump.fun, which faced significant drops in their values. However, holders of the newly launched DEX token, Aster, benefited from the surge in its value.
Why does this matter?
The fluctuation in the value of these major cryptocurrencies indicates potential volatility in the crypto market, affecting global investment trends. The ups and downs can make or break fortunes for investors. The case of Aster also exemplifies how endorsements from notable figures in the crypto world can significantly influence a token’s value.