Speculative Crypto Assets Collapse Amid Broad Market Retreat
The cryptocurrency market is weathering a violent correction, with investors fleeing high-risk assets. Memecoins led the downturn, shedding $5 billion in 24 hours—a 66% drop from January peaks—as total capitalization plunged to $39.4 billion. NFTs mirrored the decline, hitting April lows.
This rout reflects a broader flight to safety, erasing $800 billion from crypto markets in three weeks. Trading volumes spiked during the selloff, underscoring the intensity of the deleveraging. The memecoin sector, once a darling of retail speculation, now trades at 2025’s lowest levels.