The crypto market encountered serious issues with liquidations exceeding $701 million, primarily due to long positions. The PEPE token faced pressure, showing significant decline.
Market Collapse
The crypto market has faced a sharp decline, with over $701 million liquidated. This occurred amid rising macroeconomic risks. Investors who were hoping for short-term price spikes are now facing deep losses.
PEPE's Weak Position
The Pepe (PEPE) token suffered particularly hard, dropping 18% over the week and 8.22% in the last 24 hours, reaching a level of $0.0000092. This re-added a zero to its price, signaling a decrease in investor confidence.
New Opportunities in DeFi Market
Amid the instability of PEPE and other meme tokens, the Mutuum Finance (MUTM) project draws attention due to its effectiveness and high potential. The protocol allows users to use their tokens as collateral for loans.
Thus, despite the falling prices of meme tokens, the DeFi market remains active, offering new opportunities for users. The shift towards more sustainable financial mechanisms could be a key moment for the future of the crypto sector.
