Bitcoin Dips Below $30K to Lowest Since Late June as Altcoins Pare Gains From XRP Lawsuit
Ripple's XRP, Solana's SOL and Lido Finance's LDO lost more than 4% in the last 24 hours.
Cryptocurrency markets continued to pull back from last Thursday's big gains, with bitcoin () slipping about 2% over the past 24 hours alongside more sizable declines in the altcoin sector.
Bitcoin fell to as low as $29,679 Monday afternoon and had bounced modestly at press time to $29,900. Ether (), the second largest cryptocurrency by market cap, dropped to $1,880, also about a 2% decline over the past 24 hours.
Smaller cryptocurrencies – or so-called altcoins – have suffered even steeper declines. Ripple's , which led Thursday's after a partially favorable court ruling in a lawsuit involving the U.S. Securities and Exchange Commission (SEC), tumbled 4.4% in the last 24 hours. and , the native token's of the Solana and Stellar networks, respectively, also shed more than 4% over the same period.
Ripple is now lower about 15% from Thursday's high, though still well above its pre-court ruling level. Solana is off about 10% from its Thursday high and XLM down about 25%, though both also remain higher over the past week.
Among the day's worst performers is , the governance token of liquid staking protocol Lido Finance, which has nosedived almost 12%.
Edited by Stephen Alpher.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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