The Crypto Crash Context: Why Did It Happen?
The latest crypto crash left the market in red across all major tokens. The reason behind the crash ties to global economic tension and heavy liquidations. Renewed US–China trade fears, massive profit-taking after record highs, and algorithmic selling cascades caused over $1 trillion to evaporate from total crypto market capitalization in a few hours.
Total crypto market cap in USD over the past week – TradingView
$Bitcoin and $Ethereum fell sharply, dragging altcoins and DeFi tokens with them. Let’s take a closer look at the top 5 losers in this crypto crash, their performance, and what these numbers mean.
1. Aster (ASTER) – The Biggest Loser of the Day
- Price: $1.06
- 24h Change: ▼18.28%
- 7d Change: ▼33.95%
- Market Cap: $2.15B
- Volume (24h): $1.53B
- Circulating Supply: 2.01B ASTER
$Aster leads the list with an 18% daily drop and nearly 34% weekly loss. The high trading volume — over $1.5 billion — signals massive sell pressure, possibly from institutional profit-taking. Despite the sharp decline, liquidity remains strong, hinting that short-term panic might have exaggerated the move.
If the selling persists, Aster could retest the $1.00 psychological level, but recovery depends on broader market sentiment and developer updates within the Astar ecosystem.
2. Aave (AAVE) – DeFi Blue Chip Feels the Pressure
- Price: $204.79
- 24h Change: ▼15.09%
- 7d Change: ▼26.66%
- Market Cap: $3.12B
- Volume (24h): $633M
- Circulating Supply: 15.25M AAVE
$Aave, one of DeFi’s oldest and most trusted protocols, wasn’t spared. With a 15% daily decline, AAVE shows how vulnerable even top-tier decentralized lending tokens are during broad sell-offs.
The sharp fall in total value locked (TVL) across DeFi platforms and reduced borrowing demand amplified the sell pressure. Still, Aave remains a major player in decentralized finance — and could rebound quickly if liquidity returns to the market.
3. SPX6900 (SPX) – Newcomer Hit Hard
- Price: $0.9786
- 24h Change: ▼14.65%
- 7d Change: ▼35.11%
- Market Cap: $911M
- Volume (24h): $64.6M
- Circulating Supply: 930.99M SPX
SPX6900 — a relatively new token — dropped over 14% in 24 hours and more than 35% in a week, showing how newer, lower-liquidity tokens can amplify losses during market turbulence.
The project’s fundamentals may still be developing, and this kind of volatility is typical in early-stage assets. However, if the market continues to bleed, speculative coins like SPX often suffer deeper drawdowns.
4. Mantle (MNT) – Layer-2 Token Under Pressure
- Price: $1.57
- 24h Change: ▼13.46%
- 7d Change: ▼28.79%
- Market Cap: $5.12B
- Volume (24h): $468M
- Circulating Supply: 3.25B MNT
Mantle, one of the most prominent Ethereum Layer-2 tokens, lost nearly 13.5% in a single day. Its $5B market cap still shows investor confidence, but the consistent weekly downtrend of almost 29% signals waning momentum.
Layer-2 projects have been heavily affected by gas fee fluctuations and lower network activity during risk-off periods. Mantle’s recovery depends on renewed ecosystem adoption and transaction volume growth.
5. Morpho (MORPHO) – DeFi Protocol Struggles to Stay Afloat
- Price: $1.67
- 24h Change: ▼13.45%
- 7d Change: ▼0.85%
- Market Cap: $592M
- Volume (24h): $90M
- Circulating Supply: 352.9M MORPHO
Morpho rounds out the list, down 13.45% in 24h. Interestingly, its 7-day performance (-0.85%) shows relative resilience compared to others — suggesting the crash’s impact was more immediate than structural.
Morpho’s lower market cap and moderate trading volume indicate it’s less exposed to leveraged liquidations, but still highly sensitive to broader DeFi sentiment.
Source: https://cryptoticker.io/en/crypto-crash-alert-billions-lost-top-5-losers/
