- Pump.fun leads losses with a 21.79% drop, as trading volumes stay unusually high.
- DeFi and Layer-2 tokens face heavy selling, with CRV and OP both sliding over 12%.
- Meme and identity tokens decline, with PENGU, WLD, and FLOKI all losing over 11%.
The crypto market recorded large losses over the past 24 hours, as leading tokens from different sectors faced double-digit declines. Trading activity remained strong, but the downturn displayed higher volatility across DeFi, Layer-2, and meme-linked assets.
Pump.fun (PUMP) registered the greatest decline in the crypto market, losing 21.79% to trade at $0.005883. Despite the fall, trading activity remained intense, with $670 million exchanged during the session.
Aster (ASTR) also posted a major correction, dropping 19.15% to $1.50. Its daily trading volume exceeded $2 billion, placing it among the most actively traded assets despite the downturn. Pi (PI) retreated 16.08% to $0.2998, supported by $93.1 million in daily turnover.
Altcoins and DeFi Tokens Under Pressure
Selling pressure extended to mid-cap assets. Conflux (CFX) dropped 14.01% to $0.1509, with reported trading volume at $109.6 million. Sonic (S) also faced double-digit declines, down 13.59% at $0.2507 on $126.3 million in transactions.
Curve DAO Token (CRV), one of the most traded DeFi assets, slid 13.26% to $0.6976 with $224.2 million exchanged. Layer-2 protocol Optimism (OP) recorded a 12.68% decline, closing the day at $0.7135 with $233.6 million in trades.
Source: CoinMarketCap
Virtuals Protocol (VIRTUAL) also experienced losses, falling 12.40% to $1.11. Celestia (TIA) dropped 12.28% to $1.52. Both tokens continued to register high volumes, reflecting ongoing activity in spite of falling valuations.
Established Projects and Meme Tokens Decline
Raydium (RAY), a Solana-based DeFi platform, fell 12.14% to $2.79. The decline showed that established projects were not immune to the broader market retreat. Pudgy Penguins (PENGU) also faced a major decline, dropping 11.81% to $0.03087. Trading remained active, with $453.5 million exchanged. Worldcoin (WLD), focused on identity-driven use cases, slipped 11.79% to $1.33.
Meme-inspired token FLOKI (FLOKI) closed the session with an 11.67% fall, settling at $0.00008665 on $111.5 million in trading. The drop reflected weakness across speculative assets that had previously drawn significant inflows.
The crypto market faced declines across nearly all categories, including DeFi tokens, Layer-2 platforms, and meme-based projects. While volumes stayed high, the losses marked one of the sharpest short-term adjustments for both mid-cap and established digital assets.
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About the Author: Peter Mwangi
