According to the CEO of Alphractal, several altcoins including Cardano, Litecoin, Sui, and TRUMP experienced a decline in their open interest rates, leading to a large amount of liquidation. The CEO referred to this as a "dead cat bounce," which is a price jump that occurs after a long decline and usually before another drop. They also mentioned that categories like memecoins and artificial intelligence projects have seen sharp declines, while categories like layer-1 and payments have shown resistance.



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