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After yesterday’s 11% decline on BTC, the Asia session opened up to even more selling (no surprise). The market briefly popped, but this was short-lived as the selling continued on London and New York open. Today’s biggest winners were stablecoins, and biggest losers were literally everything else.
This Week’s Performance
- Everything is down today, except stablecoins which have done their job with respect to holding their peg.
- The Polkadot ecosystem and meme coins were the hardest hit, but every major sector/ecosystem is down over 30% over the past week.