Crypto market cap sinks 8.34%, now at $2.55T as bitcoin slides

The crypto market is nursing a heavy bruise. Total market capitalization dropped 8.34% over the 24 hours to 8:01 a.m. ET Friday, landing at $2.55 trillion, according to tokenpost.com. Trading volume across the market came in at $105.10 billion.

Bitcoin slipped 4.66% to $75,992 — a smaller fall than the market as a whole, which means the damage was spread wider. Ether traded at $2,238, down 6.58%, while XRP shed 9.08% to $1.19, the steepest decline among the six major assets tracked. Meme coin Dogecoin dropped 4.82% to $0.0723, and Solana lost 5.54% to $90.14.

One asset held its ground: BNB declined just 2.22% to $695.46, the mildest move in that group. Bitcoin's share of the total market stood at 59.8%, with Ether at 10.7% — a reminder of how concentrated the market's weight remains.

The casualty list was mostly leverage. Liquidations across Binance, Bybit and OKX totaled $721.0 million in 24 hours, with long positions accounting for $636.6 million of that against just $84.5 million in shorts. In plain terms, traders betting on higher prices were the ones shown the door.

Not everything was red. World Liberty Financial (WLFI) climbed 5.41%, the best showing among the top 39 crypto assets — a lone green candle in an otherwise brutal session.