RUNE, $BSV, $ETC, $LDO Plunge 20% in 7 Days; What is Next?

• In a widespread crypto sell-off, RUNE and ETC plunged 20%, dropping to $4.05 and $23, respectively.
• BSV’s value tumbles to $74.69, marking a 23% weekly drop and sliding to 47th in market cap rankings.
• LDO’s bear rally deepens, falling 18% in a week to $3.04, despite a 115.5% surge in the past three months.

The cryptocurrency market experienced a notable downturn this week, with major digital assets like Bitcoin and Ethereum seeing significant drops in value. This trend extended to various altcoins, including THORChain (RUNE), Bitcoin SV (BSV), Ethereum Classic (ETC), and Lido DAO (LDO), all of which recorded a 20% decline in their respective valuations over the past seven days.

Grayscale’s activities have influenced the recent crypto market fluctuations. The investment firm transferred 9,840 BTC, valued at approximately $418 million, to Coinbase Prime. This move was part of a series of transactions to manage ETF redemptions, totaling over $1.7 billion in BTC since January 12. Alex Thorn, head of research at Galaxy, highlighted these significant outflows, noting the impact on the broader market.

THORChain (RUNE)

THORChain’s RUNE token, after a period of …

The post RUNE, $BSV, $ETC, $LDO Plunge 20% in 7 Days; What is Next? appeared first on Coin Edition.