The altcoin market capitalization plummeted to $880 billion following a 22% weekly decline that shook trader confidence. Zcash led the sell-off with a crash of over 40%, while Ethereum's total open interest hit a four-month low of $23.3 billion. Conversely, Binance saw a record high in Ethereum open interest as traders aggressively entered long positions despite the broader market downturn.
