$100 billion wiped from the crypto market in under a week
The crypto market started the new year with some volatility and price corrections, despite gaining momentum in the final quarter of 2023. The approval of the first spot Bitcoin exchange-traded funds (ETFs) in the United States was a major event that caused a surge in Bitcoin's price, but it quickly corrected and declined by 2.92% since the start of the year. Other cryptocurrencies, including XRP, Solana (SOL), and Polygon (MATIC), followed a similar pattern and the total market cap of all cryptocurrencies fell by more than $100 billion in less than a week. However, Ethereum (ETH) has risen above most other major cryptocurrencies in 2024, remaining in the green for the year and showing a strong air of optimism in the Ethereum community.
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