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Crypto Market Cap Slips to $2.87 Trillion Amid Broad Sector Declines
The global cryptocurrency market capitalization declined by 1.1% over the past 24 hours to reach $2.87 trillion. Bitcoin dropped to $82,847.56, while Ethereum fell to $2,491.92. Other major tokens also posted losses, with BNB falling to $740.52 and Solana dropping 4.2% to $106.77. In traditional equities, South Korea’s KOSPI index dropped up to 7% intraday, triggering a sell-side circuit breaker. South Korea's Financial Intelligence Unit decided to block website access for 27 unregistered virtual asset service providers, including KuCoin and MEXC. Meanwhile, BlackRock downgraded US equities from overweight to neutral and upgraded short-term Treasury bonds to overweight. SOL treasury company SkyAI confirmed the sale of roughly one million SOL tokens to fund a share and warrant repurchase. Additionally, BitMine reported holding over six million ETH as of October 11, nearing its supply target.