The Spent Output Profit Ratio Despite the recent price turmoil, legacy investor Stan DruckenmillerETH’s New Low, While Some Alts Recover
Ethereum continues to be among the most substantial losers in this market crash. ETH stood above $2,000 a week ago and lost almost 50% of its value in the past seven days. Just hours ago, the second-largest crypto found itself trading below $1,100. Now, though, it has bounced off and sits above $1,200.
Most of the larger-cap alts, are in a better position on a daily scale. Following the massive declines yesterday, ADA, SOL, Polkadot, and Avalanche have recovered double-digit percentages. Shiba Inu is up by around 8%, while BNB, XRP, TRX, and LEO are approximately at the same positions as yesterday. The crypto market cap dropped below $1 trillion yesterday and fell all the way down to $900 billion earlier today. Despite recovering $60 billion since then, the metric is still down by $300 billion in less than a week.
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