The crypto market experienced a massive sell-off in the last 24 hours. Several assets related to Digital Currency Group (DCG) Grayscale’s investment products, like NEAR, Filecoin, Ethereum Classic, etc., shed an average of over 10%, prompting fears that the firm was selling.
According to Coingecko, the crypto market fell by 5.4% over the reporting to $838 billion. Data from Coinglass showed that $237.86 million was liquidated from the industry. Bitcoin declined by 4.3% to $16,710, while Ethereum saw 7.6% losses to trade at $1,180 as of press time.
Altcoin’s Value Falter
In the last 24 hours, several DCG-related assets, like Filecoin, Near, Ethereum Classic, Litecoin, Bitcoin Cash, etc., all saw losses. Binance-backed coins like BNB, Trust Wallet Token, etc., also saw substantial red candles. Other altcoins like Algorand, Cardano, Chainlink, Avalanche, and Solana saw their values plummet rapidly during the sell-off.
