SOL - Binance Coin XRP and Solana Plummet
Today, it's an absolute bloodbath in financial markets. Besides bonds, which are doing OK, stocks and cryptocurrencies are getting absolutely ravaged by the news of the Russian invasion of Ukraine yesterday evening. At noon ET, top-10 cryptocurrencies Binance Coin (CRYPTO: BNB) , XRP (CRYPTO: XRP) , and Solana (CRYPTO: SOL) had dropped 9.4%, 10.7% and 6.1%, respectively, over the past 24 hours.
These moves reflect increasing concern around the higher correlation we've seen form between stocks and cryptocurrencies. Specifically, this correlation between more speculative, high-growth equities and most digital tokens is of concern to crypto investors overall.
Image source: Getty Images.
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Binance Coin, XRP, and Solana Plummet