The cryptocurrency market on May 30, 2025, experienced a sudden drop, with market capitalization falling by about 2.6% to $3.34 trillion, recording collective losses affecting both major and minor currencies. This sudden decline raised concerns among investors and prompted many to seek reasons behind this abrupt downturn.
The most significantly declining major currencies: $DOGE lost more than 10% of their value during the night due to a sudden wave of selling on major exchanges.
Solana $SOL : fell sharply after Pumpfun transferred $25 million, causing panic among traders.
Pi Network: suffered heavy losses due to intense selling pressure, recording a decline of over 18% in one day.
Kaspa: one of the severely affected currencies, dropping by 15% after massive withdrawals from Asian trading platforms.
Main reasons:
1. Stalled trade negotiations between China and the United States, heightening global concerns about economic stability.
2. Liquidation of long positions exceeding $683 million, leading to a series of declines.
3. Weak U.S. economic data, pushing investors toward less risky assets.
4. Rumors of potential new restrictions by China on digital mining and trading.
Forecast:
Under these circumstances, analysts expect continued short-term instability, especially if geopolitical pressures and regulatory tightening persist. However, some currencies are likely to experience a gradual recovery as sentiment improves and global economic visibility becomes clearer.
