CoinDesk·4 min read·hard
Ether falls twice as hard as bitcoin and HYPE drops 10% as the chip trade unwinds
S
Shaurya Malwa
✦AI Summary
Cryptocurrencies including Ether and Bitcoin declined as a broader sell-off in semiconductor stocks impacted global markets. Investors are questioning the sustainability of the recent AI-driven rally as chip manufacturers face significant market pressure.
Ether dropped 4% to $1,850, though it remains up 4% over seven sessions and is the only major still green on the week. HYPE was the worst of them at $60, down 10% on the day and 12% on the week, its steepest stretch since June. Solana slid 2% to $75 and is off 5% for the week.
businesseconomycryptotechnology
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