As many of you know, the entire cryptocurrency market took a sharp nosedive overnight. The total crypto market cap dropped to $2.64 trillion, reflecting a 2.5 percent drop. Onyxcoin, Walrus, Solana, and Cardano were among the altcoins that bore the brunt of the losses. Weighing on the market’s negative sentiment, Ethereum-based Spot ETF products experienced outflows.
BNB‘s price has dropped by 1.2 percent, sinking its current trading price to $580.13. Solana fell even harder, losing 5.1 percent in the last 24 hours to $125.51. Onyxcoin (XCN) had the largest decrease of all the top 100 cryptos, dropping 15.8 percent. Walrus (WAL) has experienced a sizable drop, losing 15.5 percent of its worth over the last 24 hours.
Dogecoin (DOGE) had a rough one, losing 3.8 percent in the last 24 hours, trading at $0.1532. DOGE is presently trading at a price that is 79 percent below its all time high. Further, so far in 2025, year-to-date losses for DOGE exceeded 52 percent. Ethereum was under similar downward pressure, losing 3.4 percent overnight to fall to a price of $1,575.
Ether’s present trading price is still 68 percent under its all-time peak, and YTD losses in Ether are more than 10 percent. Despite the overnight losses, Ether is still up 6.6 percent over the last week. Cardano had a rough time of it, falling 5.1 percent overnight to $0.6055. The trading price of Cardano as of this writing is 80 percent below its all-time high.
Ethereum-based Spot ETF products also saw an outflow of $14 million on Tuesday. These outflows signal a deteriorating investor sentiment against Ethereum-based investment products. Outflows are increasing, and prices of the overwhelming majority of cryptocurrencies are in a downward trend. Combined, these trends paint a bleak picture of a risk-off mentality in the crypto space.
