[The Crypto Market Loses $380 Billion in a Week, Altcoin Market Cap Shrinks by $131 Billion] According to data from 10x Research, the cryptocurrency market lost approximately $380 billion in market capitalization over the past week, with altcoins contributing $131 billion to the decline. This round of market collapse has sparked widespread doubts about the future of the altcoin ecosystem. Traders and market makers have pointed out that the structural support for altcoins is crumbling, with fewer market buyers and heightened risk aversion. Morten Christensen, a trader at (AirdropAlert.com), stated that while altcoins may offer higher potential gains, their volatility is extreme, with single-day drops of up to 50% and weekly plunges of as much as 90%. Needham & Co. analyst John Todaro added that altcoins carry significantly higher risks compared to large-cap crypto assets, but deliver lower returns. Wintermute CEO Evgeny Gaevoy bluntly remarked that the altcoin market may shrink further.
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더보기 >韩国当局重启对币安收购 Gopax 的审查，或推动其重返市场
[South Korean Authorities Resume Review of Binance's Acquisition of Gopax, Potentially Paving the Way for Its Market Return] The South Korean Financial Intelligence Unit (FIU) has resumed its review of Binance's acquisition of the local cryptocurrency exchange Gopax, a process that had been stalled for over two years due to anti-money laundering concerns. After Binance acquired a 67% stake in Gopax in March 2023, it submitted an executive change report, but the approval process was delayed. Under current laws, South Korea does not conduct separate qualification reviews for major shareholders of cryptocurrency exchanges, meaning this executive change report is essentially regarded as an indirect evaluation of Binance's qualifications. The FIU's current stance is positive, and the approval for the changes is expected as early as the end of 2025. This development could mark a critical step for Binance to re-enter the local market after shutting down its South Korean operations in 2021.
The main force lacks confidence in the future market
HTX-BTC perpetual contract is now reported at $11307.1. According to market contract position analysis, the main force lacks confidence in the future market, and the price may decline. Please hold positions reasonably and control risks
BNB falls below the $1250 mark
Binance BNB/USDT is currently trading at $1243.86, with a 5-minute decline of 0.54%. Please pay attention to market fluctuations.
ETH falls below the $4100 mark
OKX-ETH/USDT is currently trading at $4099.82, with a 5-minute drop of 0.42%. Please pay attention to market fluctuations.
BTC falls below the $113000 mark
OKX-BTC/USDT is currently trading at $112994.10, with a 5-minute decline of 0.04%. Please pay attention to market fluctuations.