Major cryptocurrencies, particularly XRP, BNB Chain (BNB), Cardano (ADA), and Dogecoin (DOGE), have experienced a decline of around 4%. In the futures market, where traders were betting on the rise of these assets, automatic position liquidations exceeding $600 million occurred due to falling prices.
Meanwhile, Litecoin (LTC) and Aptos (APT) emerged as rare assets, each surging by over 10%. APT jumped following the registration of the "BITWISE APTOS ETF" fund in Delaware (USA), alongside rumors of a potential ETF for Litecoin. However, traders remain cautious about the possibility of a prolonged LTC rally.
“It is unlikely that institutional investors will have long-term confidence in Litecoin, as it does not offer yield, utility, or organic demand outside speculation regarding ETF approval,” noted Ben York, Vice President of Ecosystem at WOO, in a comment to CoinDesk. “This is likely to be a 'sell the news' event, as investors will want to pivot to more relevant trends and future rumors about ETFs.
Ether (ETH) continued its multi-day decline on Thursday, losing 7% over the past 24 hours, as the prolonged sell-off in cryptocurrencies shows no signs of slowing down.
Bitcoin (BTC) fluctuated during trading in the U.S. on Wednesday, reaching up to $89,000, but dipped momentarily to $82,200, and slightly recovered to over $86,000 in the morning hours in Asia. The overall market, tracked by the CoinDesk 20 (CD20) index, which covers the largest liquid tokens, fell by more than 3%.