Crypto prices drop sharply, with losses up to 25% across the board

A range of cryptocurrencies fell sharply this morning, leaving multiple altcoins in the top 100 with 20-25% losses.

Highlights

EOS, Polygon and Dash each lost between 24% and 25% this morning.
The biggest losses in the top 100 cryptocurrencies by market cap were EOS and Dash.
Many of the tokens that fell the most were also named as securities in the recent lawsuits by the Securities and Exchanges Commission against crypto exchanges Coinbase and Binance.
Bitcoin and Ether were less affected but still saw 3% and 5% declines.
Binance CEO Changpeng Zhao dismissed one reason for the market crash on Twitter today.
He said instead that the exchange’s stablecoin reserves — used to pay salaries and expenses — had decreased and that its crypto reserves had increased.

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