Crypto Market Crashes Amid Binance Hack Rumors

Major cryptocurrencies experienced a sharp drop amid rumors of a potential hack at Binance exchange. Within minutes, prices for key assets fell significantly, triggering mass liquidations of traders' positions.

Key Asset Performance

• Bitcoin (#BTC) dropped below $78,500
• Ethereum (#ETH) fell below $2,250
• Solana (#SOL) plunged below $95
• XRP (#XRP) dipped below $1.25
• Monero (#MNR) rose by 7% amidst the broader market crash

In just 30 minutes, long positions worth over $600 million were liquidated. The wave of mass liquidations intensified selling pressure and worsened volatility in the cryptocurrency market.