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CDS Crypto News Crypto Leaders in the Americas Continue to Decline; SOL, DOGE Hit Hardest

Crypto News

Crypto Leaders in the Americas Continue to Decline; SOL, DOGE Hit Hardest

sevval18/06/20241 Mins read292

Crypto Leaders In The Americas Continue To Decline; Sol, Doge Hit Hardest

Crypto Leaders in the Americas Continue to Decline; SOL and DOGE Take Heavy Hits

Crypto News– Cryptocurrency majors continued to slide during the European morning, with prominent altcoins and meme coins leading the downturn. SOL and DOGE were particularly hard hit, showing declines of 4.5% and 10% respectively over the last 24 hours. Bitcoin also dipped below $66,000 to around $65,300, marking a decrease of 0.9%, while Ethereum dropped over 3.25% to $3,400. The CoinDesk 20 Index (CD20), which tracks the broader digital asset market, recorded a decline of just over 3% in the past day.

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Bitcoin ETFs mirrored this negative trend, experiencing outflows of $145 million on Monday. DOGE saw $60 million in long positions liquidated, surpassing losses seen in BTC futures—a rare occurrence in the crypto market. These figures represent DOGE’s largest hit since May 2021. BTC long positions lost $47 million, and ETH fared worse with losses totaling $76 million. Overall, crypto longs saw over $440 million in losses due to profit-taking and dollar strength, according to traders.

Open interest, which measures the number of outstanding futures contracts, fell by 16% to $600 million. Meanwhile, the long-short ratio for DOGE futures indicates a bearish sentiment among traders, standing at 0.94 and suggesting expectations for further declines.

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Since December, the total value locked in the TON blockchain has increased from $11 million to $603 million.
The 54x surge in six months comes as the TON-based economy takes root in Telegram.
Source: DefiLlama

– Omkar Godbole

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sevval

Şevval has been actively writing since 2022 and is a third-year mathematics student at Ankara University. Her interest in writing is shaped particularly around innovative technologies such as Web3, artificial intelligence, and blockchain. She closely follows developments in these fields and aims to convey complex topics to readers in a clear and engaging manner. She enjoys combining her mathematical knowledge with technology to create content and strives to raise awareness about the digital world of the future.

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