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Crypto Market News: Scimitar Capital's Decision to Liquidate Crypto Holdings Causes Widespread Drop in Altcoin Prices

A crypto proprietary trading firm's decision to liquidate their crypto holdings is rumored to be the cause of the widespread drop in altcoin prices on Saturday. The global crypto market value has decreased by 5.74% in the last 24 hours, with Cardano (ADA) and Solana (SOL) experiencing the biggest losses in value. Scimitar Capital, a crypto trading platform, has announced their decision to liquidate their crypto holdings and return capital to investors, which some believe may have contributed to the market drop. It remains to be seen whether the market will recover over the weekend or continue to decline.

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