Solana Meme Coins Suffer Worst as Crypto Collapses

As astir each the apical 100 cryptocurrencies are decimated, meme coins connected large blockchains are the worst sufferers. Solana's meme coin ecosystem took a hit, portion immoderate of its main coins mislaid a 4th of their worth overnight.

Solana (SOL) meme coins successful red; MEW, MYRO, BONK affected

The conception of Solana-based meme coins is officially the main unfortunate of yesterday's crypto dropdown. With a achy 20% plunge, it demonstrates the largest losses amid each the 225 groups connected CoinGecko's "Categories" tab.

Image by CoinGecko

It should besides beryllium noted that different meme category, "Cat-Themed Coins" is the sixth worst sufferer successful the list.

As such, Solana's (SOL) meme coins country saw $1.5 cardinal of its capitalization erased by the ongoing cryptocurrency collapse.

Amid each ample Solana (SOL) meme coins, the caller newsmaker Cat successful a Dogs World (MEW) mislaid the most: Its terms dropped by 29%.

Myro (MYRO) is down by 24%, portion Dogwifhat (WIF) and Bonk (BONK) are posting double-digit losses.

Layer 1 blockchains and CEXes look beardown amid bloodbath

The aggregated capitalization of the cryptocurrency marketplace plunged by 4.7%, portion Bitcoin (BTC) and Ethereum (ETH) mislaid 3% and 6%, respectively.

Theta Ecosystem and game-centric coins are besides among the worst performers unneurotic with governance coins of perpetuals speech protocols and cross-chain connection products.

Just similar successful galore erstwhile dropdowns, centralized exchanges' coins and autochthonal currencies of large L1s are the strongest.

Affected by U.S. macroeconomic uncertainty and Middle East tensions, Bitcoin (BTC) dropped from $71,000 to beneath $68,000 successful astir nary clip yesterday.