$325b vanishes as liquidity evaporates
The crypto market has lost over $325 billion since Friday, with almost half of that wiped out in the last 24 hours.
According to The Kobeissi Letter, the crypto market cap has shed over $325 billion since Friday. Within the last 24 hours alone, approximately $150 billion has been liquidated, with $100 billion erased in just one hour today. The sell-off has affected nearly all crypto assets, including memecoins.
Analysts at The Kobeissi Letter trace the beginning of the downturn to Solana (SOL), which has crashed 22% since Friday as the memecoin frenzy cooled off.
Then, Bitcoin (BTC) followed suit, losing its relative strength, as the S&P 500 began to pull back on Friday….
