Crypto Weekend Slump Compounds Jitters of Investors Already on Edge
07/04/2023 12:20
A sharp weekend selloff in crypto led by a slump in smaller digital tokens set off a fresh wave of anxiety among investors, following a week in which a crackdown by the US Securities and Exchange Commission on the sector gained significant pace.
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A sharp weekend selloff in crypto led by a slump in smaller digital tokens set off a fresh wave of anxiety among investors, following a week in which a crackdown by the US Securities and Exchange Commission on the sector gained significant pace.
Altcoins including Cardano’s ADA tumbled as much as 25% on Saturday before paring a sliver of the decline, while tokens including Solana’s SOL, Polygon’s MATIC and Avalanche’s AVAX posted double-digit percentage drops. Bitcoin, the largest digital asset, was down almost 3% as of 4:15 p.m. in New York. Second-ranked Ether earlier shed more than 6% to hit its lowest level since late March.