HOME Coin Plummets 27% as Crypto Market Faces $448 Million Liquidations

The crypto market recently experienced a significant downturn, with several tokens on the Binance exchange facing substantial price declines. Leading the list of losers was HOME coin, which saw a 27% drop in value over a 24-hour period. This decline was part of a broader market sell-off that saw Bitcoin dip by 7%. The sell-off has led to market-wide liquidations totaling nearly $448 million, highlighting the high-beta nature of these assets, which often experience steeper declines during a market downturn.

HOME coin, a next-generation cryptocurrency that combines Real Estate-backed stability with the transparency of blockchain technology, led the losers chart with a 27% crash in the past 24 hours. Despite this significant loss, HOME retained a $245 million FDV and was 30% above its all-time low at the time of the report. Other cryptocurrencies making up the top 10 worst price performers on Binance during the period under review include RESOLV, INIT, NEIRO, ANIME, and HYPER. Others are PEOPLE, BABY, HUMA, and DEGO. It is worth noting that despite their notable losses, all these cryptocurrencies remained above their all-time lows. The most remarkable token among the lot is DEGO, which maintained a 123% profit margin from its lowest price, with a $22 million FDV.

Although a 27% loss in 24 hours is significant for a crypto asset, users do not consider it out of place, especially during heightened volatility and market-wide losses. Bitcoin experienced a significant pullback alongside other top crypto assets. However, the market is showing signs of recovery, with BTC gaining 1.75% after bouncing off recent support to trade for $104,660 at the time of writing. Analysts have not ruled out the possibility of an immediate rebound for the above-listed tokens, considering their status and tolerable extent of losses. However, a recovery could depend on the overall crypto market trend, of which Bitcoin is showing signs of an upward reversal.