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Altcoin Market Cap Drops to $1.28 Trillion Amid AI Bubble Fears

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BTC
$89,442.00-0.26%
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ETH
$3,038.74-0.23%
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XRP
$2.02759-0.37%
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BNB
$892.3560.85%
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SOL
$132.37-0.26%

As reported by Bitcoin.com, on Nov. 18, the altcoin market capitalization briefly fell to $1.28 trillion following a decline in bitcoin below $90,000. Ethereum (ETH) dipped to $2,944 before recovering to $3,050, with the broader altcoin market down 4% in 24 hours. The sell-off was driven by investor fears that the AI boom may be nearing a bubble burst, fueled by comments from Alphabet CEO Sundar Pichai. Other high-cap altcoins like XRP, BNB, SOL, and ADA also saw significant losses, while Zcash (ZEC) fell 13.8% in 24 hours despite a 24% weekly gain.

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