Crypto markets experienced a downturn on Monday, with Solana (SOL) and XRP leading the losses, both dropping by 4%. Bitcoin (BTC) saw a lesser decline of 1.1%, while BNB Chain’s BNB fell by 0.5% over the past 24 hours. Dogecoin (DOGE) also decreased by 3%. In contrast, Cardano’s ADA and Ether (ETH) managed to rise by 2% as of midday in Europe. The midcap token Jupiter’s JUP plummeted by 9%, largely due to its association with the controversial LIBRA coin, which recently crashed in value after being briefly endorsed by Argentina’s President Javier Milei. The broad-based CoinDesk 20 (CD20) index, which tracks the largest tokens by market capitalization, fell by 1.29%. Despite macroeconomic uncertainties, crypto implied volatility and the VIX remain low, suggesting that the market is waiting for concrete policy changes rather than just pro-crypto rhetoric.
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