Ether drops below $3,000 as leveraged liquidations approach $150 million.
Crypto markets turned sharply lower on Friday, retracing the gains from yesterday’s rate cut optimism-driven rally.
Bitcoin dropped 3% in the span of an hour, while Ether plunged below $3,000. Solana’s SOL dipped by 4% to $147.
Among the top 100 cryptocurrencies by market capitalization, the biggest losers are liquid staking leader Lido (LDO) and Bittensor (TAO), the decentralized AI project. Both are down around 7% in the past 24 hours.
Meanwhile, Akash Network (AKT) and Telegram-affiliated TON are the best performers, up 13% and 8%, respectively.
The selloff appears to be isolated to crypto for now, as major stock markets and the U.S. dollar are trading flat on the day.
Nearly $150 million of leveraged positions were liquidated in the past 24 hours, with just over half that figure in the past four hours, according to CoinGlass.
