Ethereum, XRP, Solana See Outsized Drawdowns as Macro Pressures Bite
- —Total crypto market cap dropped 2.5% to $2.8 trillion in 24 hours
- —ETH fell 5.5% to a $289 billion market cap, XRP 5.1% to $82.4 billion
- —SOL slipped 3.8% to $60.6 billion, while BTC lost 3.1% to $1.6 trillion
- —Altcoin futures open interest excluding ETH has fallen $8 billion since early October
Why it matters: High-beta altcoins are most sensitive to tightening liquidity; a recovery hinges on fading odds of an October Fed rate hike.
Source: Decrypt