Profit taking in bitcoin contributed to a broader market drop as tokens of some of the largest blockchains, such as solana's SOL fell as much as 8% in the past 24 hours, data shows.
Elsewhere, stellar's XLM dropped 6.6% as traders likely took profits after a 10% rise over the past week. Chainlink’s LINK traded flat following a 15% rise on Thursday – buoyed by the introduction of its CCIP protocol earlier this week. Analysts said parts of the revised bill exclude from the definition of"digital assets" a range of traditional securities such as stocks, bonds,"transferable share[s],""certificate[s] of interest or participation in any profit-sharing agreement," and so on.
The CoinDesk Market Index , a broad-based index designed to measure the market capitalization-weighted performance of the crypto market, fell 1.7%.
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