The cryptocurrency market has shown active movement. Bitcoin and Ethereum hold leading positions, but the market faced significant price fluctuations due to leveraged trading and market conditions.
Notable Price Movements
$EOS price declined by 4.6%, possibly due to its integration with the HyperEVM ecosystem. $GRASS fell by 7.2% after being added to Binance Futures. $CRO declined by 3.1% despite integrating Chainlink price feeds. Concerns over privacy caused $ZEC to drop by 7.4%, while $WAL decreased by 2.4% before the launch of the Walrus Protocol mainnet, which led $SUI to rise by 6%.
High Liquidations Reflect Volatility
The crypto market's instability led to numerous forced sales. Bitcoin recorded $1.83 million in liquidations linked to international tariff decisions by President Trump. $ETH faced $1.89 million worth of liquidations after the successful deployment of the Hoodi testnet. Major liquidation events included $ACT at $879.29 million, $SOL at $879.04 million, and $XRP at $834.18 million.
Market Sentiment and Outlook
The Fear & Greed Index reading of 20 signals significant caution among market participants. Despite this, trading volume remained high at $527.07 billion in 24 hours. PHOENIX Group actively monitors the evolving cryptocurrency market, analyzing its opportunities and risks, which are expanding with innovations at HyperEVM and Cronos as well as the upcoming launch of the Walrus Protocol.
The cryptocurrency market remains dynamic, with notable price changes and liquidations reflecting its volatility. Market participants show caution, yet daily activity is high.
