Bitcoin (BTC) buckled to $28,900 Friday afternoon then recovered slightly above the $29,000 level, as cryptocurrency markets gave up gains and turned lower during the day. Ripple's XRP led the downside action among large-cap digital assets by dropping nearly 5% in the last 24 hours. ADA, SOL and MATIC, the tokens of smart contracts platforms, Cardano, Solana and Polygon, also reversed giving up early gains. LTC, the native token of the Litecoin network, extended its losing streak typical around its quadrennial halving event and dropped another 4.5%. Some smaller cryptocurrencies defied the otherwise red day in crypto markets.
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