The cryptocurrency market experienced a broad downturn last week, with several major altcoins posting significant losses. Ethena’s ENA token fell roughly 15%, breaking below key support. Arbitrum’s ARB also slid close to 15%, while the Artificial Superintelligence Alliance’s FET dropped over 8% amid a wider slump in AI-related tokens. Larger assets like Solana and Chainlink saw declines of approximately 10% and 11%, respectively. Analysts noted the moves followed wobbles in Bitcoin and Ethereum, triggering a market rotation rather than a collapse.
The cryptocurrency market witnessed a widespread correction last week, with several altcoins extending their downtrends. **Ethena’s** ENA token dropped roughly 15%, slipping below the $0.18 support zone and failing to attract meaningful dip buying. Analysts observed the token was in a *consolidation-at-the-lows phase, with the market waiting before reassessing downside risk.*
Arbitrum’s ARB faced similar selling pressure, sliding close to 15% as it broke down from the $0.20-$0.21 zone. The token’s price consolidated near weekly lows, entering a wait-and-watch period for traders.
Artificial Superintelligence Alliance’s FET ended the week down over 8% as AI tokens collectively lost momentum. The decline followed a breakdown from the $0.25 region, with any short-lived bounce attempts quickly absorbed by sellers.
Losses were not confined to mid-cap assets. Solana [SOL] fell around 10%, while Chainlink [LINK] dropped nearly 11%. Another notable decline came from Sui Network [SUI], which slid about 16% over the week.
This week served as a reminder that markets do not all move uniformly, even when leading assets like Bitcoin and Ethereum wobble. Some traders rushed to lock in profits while others chased strength where it appeared.
