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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

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.