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Crypto Washout Sends Major Coins to Lowest Levels of the Year

  • Ether drops below low set after collapse of Terra blockchain
  • Solana, Cordano tumble as ‘crypto winter’ carries into spring
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Bitcoin Miners Sell Tokens as Prices Lower
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Losses in cryptocurrencies deepened Friday, with everything from Bitcoin to Ether to Solana either setting or approaching their lowest levels of the year. 

The MVIS CryptoCompare Digital Assets 100 Index, a market cap-weighted measure which tracks the performance of the 100 largest tokens, declined 4.9%, bringing the drawdown for the year to almost 50%. Bitcoin, which accounts for almost half the index, slumped for a fourth day. Ether, which makes up about 18%, breached an earlier low set at the start of May after the collapse of the Terra blockchain. Popular DeFi tokens such as Solana and Cardano fell even more.