Mega-cap assets like XRP and exchange tokens BNB and BGB showcased resilience, defying broader market weakness spurred by an ongoing liquidation event that wiped over $150 billion from global crypto market capitalization in the past 24 hours.
The cryptocurrency market lost $320 billion in the last 24 hours, with the aggregate market capitalization dropping 10% to $3.2 trillion on Wednesday. BTC price has declined by 3%, plunging as low as $94,200 despite $52 million Bitcoin ETF inflows.
Memecoin sector performance The aggregate market capitalization of memecoin projects plunged 14.7%, shedding $16 billion to settle at $110 billion as of Wednesday. Among individual performances, ai16z led the losses with a steep 12% drop in the last 24 hours, while Bonk shed 9.2%. Pepe and Shiba Inu also experienced declines of 5.8% and 4.6%, respectively, reflecting the broader risk-off sentiment. Meanwhile, Pudgy Penguins slid 10.3%, despite its relative stability over the past week.
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