Based on cryptocurrency data platform Coingecko, the market capitalisation of the 11,392 coins it tracks dropped nearly 15 percent to $2.34 trillion.
Justin d’Anethan, Hong Kong-based head of exchange sales at cryptocurrency exchange EQONEX, said he had been watching the increase in leverage ratios across the cryptocurrency markets as well how large holders had been moving their coins from wallets to exchanges.
“If anything, this is the opportunity to buy the dip for many investors who might have previously felt like they missed the boat.
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