Ethereum's June 5 Drop Pushes Altcoin Market Cap to $880B, ETH Down 22% on Week

A market-wide sell-off on June 5 sent Ethereum down 10% to $1,545 and pulled total altcoin market capitalization to about $880 billion. The move erased more than $468 million in leveraged positions, with longs making up 87% ($408 million). Zcash fell over 40% to $264.80 after a vulnerability disclosure, later rebounding near $320 as it lost the top privacy-coin spot to Monero.