What's happening with altcoins❓

The decline affected almost the entire market. The hardest hit were:

· Ethereum (ETH) fell to $1,850 (down 5% in 24 hours).

· Solana (SOL) and Sui (SUI) were the biggest losers on the CoinDesk 20 Index, losing around 4.8%. According to other sources, SOL's decline reached 7-8% amid low liquidity.

· LayerZero (ZRO) and pump.fun (PUMP) plunged 10.1% and 8.66%, respectively.

The overall damage to traders was colossal: positions worth approximately $500 million were liquidated in 24 hours, and 137,689 traders recorded losses.

Strategy (formerly MicroStrategy) continues to buy.

Despite the market decline, Michael Saylor's company is not stopping:

· Last week, Strategy acquired another 592 BTC worth $39.8 million at an average price of $67,286 per coin.

· This acquisition marked the 100th Bitcoin purchase announcement since 2020.

· The company now holds 717,722 BTC, purchased for more than $54 billion. Due to the current Bitcoin price, the company is posting a "paper" loss of approximately $7 billion.

· Industry News

· Bitcoin Reserve in the US: The state of Missouri has advanced a bill to create a strategic Bitcoin reserve. The document will allow the state treasurer to invest budget funds in cryptocurrency and use them for tax payments.

· Vitalik Buterin Sells ETH: The Ethereum co-founder has sold some of his coins again. Over two days, he sold 1,869 ETH for $3.67 million, which coincided with a 5.7% price drop.

· Security: Vitalik Buterin also proposed implementing a transaction simulation feature for crypto wallets. This would allow users to see the result of a transaction before it is confirmed, reducing risks.

Summary

Today is marked by correction and fear. Bitcoin is testing the $64,000 support level, and whether it can hold above this level will determine the future market movement. Investors are currently closely monitoring macroeconomic signals from the US and the actions of major holders.

What's Happening with Altcoins❓