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\n\t\t\t\t\t\t\t\t\tZcash was one of the worst hit, recording a double-digit drop despite remaining massively higher over the past year.\t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n
Tuesday turned ugly for crypto markets, with a broad wave of selling hitting altcoins across the board, led by Zcash (ZEC), which dropped 11%, World Liberty Financial\u2019s WLFI, which was down 8%, and Ondo Finance (ONDO), falling 7%.<\/p>\n
The losses came against a backdrop of rising bearish sentiment in the crowd, which, according to blockchain analytics firm Santiment, has historically happened right before prices rebounded.<\/p>\n
Santiment flagged<\/a> the damage in a post on X earlier today, noting drops in Ondo, Zcash, WLFI, and DeXe, among others.<\/p>\n For Ondo, the timing was particularly grim, seeing as the dip came right on the heels of the passing<\/a> of 32-year-old founder and CEO Nathan Allman. The company announced that longtime President Ian De Bode will take over as CEO. The token is now trading near $0.41, putting its performance in the last seven days up by roughly 9%.<\/p>\n Zcash\u2019s 11% single-day drop was the sharpest among the named losers, although at the time of writing the decline was at about 7.5% in the last 24 hours, with ZEC trading at around $570. For context, the asset is up 60% over the past month and nearly 970% across the last year, so the daily move looks less alarming against that backdrop.<\/p>\n Meanwhile, WLFI\u2019s 8% dip added to a difficult stretch for the token, which hit<\/a> a new all-time low in late April after crashing 16% in one day. It has had to navigate a controversial lock-up proposal, a lawsuit by Tron\u2019s Justin Sun, and continued scrutiny over ties to the Trump family.<\/p>\n Despite the losses mentioned above, the weekly picture looked different for some tokens. For example, NEAR was up more than 55% over seven days, and it was changing hands around the $2.50 level, although it pulled back nearly 8% on Tuesday alone. Another gainer was Hyperliquid\u2019s HYPE token, which went up 25% per Santiment\u2019s data.<\/p>\n However, the week\u2019s standout was RAIN, which hit an all-time high of around $0.012 on Tuesday after climbing almost 55% for the week and over 44% in the last 24 hours alone.<\/p>\n Separate data from Santiment posted on the same day showed<\/a> that bearish crowd expectations have been building for about 10 days now, with the firm noting that this kind of collective lean toward caution has historically heralded price recoveries, considering that markets tend to move against the crowd\u2019s prevailing mood.<\/p>\n But traders will have to wait and see whether that plays out this time, especially with Bitcoin still stuck below $77,000 and struggling<\/a> to break above its descending 200-day moving average near $80,000.<\/p>\nIt Wasn\u2019t All Red<\/h2>\n
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