Today’s notable movers in the perpetual futures market reveal downward pressure across different crypto subsectors, including AI and stablecoin-adjacent assets.
Significant 24-Hour Declines (Perp Contracts):
🔻$ELSA : -22.84% | Last: $0.18101
🔻$FRAX : -21.43% | Last: $0.9857
🔻$MERL : -19.63% | Last: $0.12866
The decline in FRAX is particularly noteworthy. As a core asset within the Frax stablecoin ecosystem, such movement may reflect:
· Broader stress in DeFi stablecoin mechanisms
· Sector rotation out of “stable” yield assets
· Protocol-specific developments or sentiment shifts
When assets from different narratives decline simultaneously, it often indicates market-wide risk-off sentiment or liquidity withdrawal. In such environments, disciplined risk management—including reduced leverage and confirmed stop-losses—becomes paramount.