Plunge in gold, silver, and copper sparks $120 million rout in blockchain metal clones
Yahoo Finance·2026-01-30 14:16

The crypto market's tight links with traditional markets laid bare Friday as a sharp slide in metal prices shook out millions in leveraged bets on blockchain versions of gold, silver, and copper. Three-month copper futures on the London Metal Exchange (LME) fell nearly 4% from Thursday’s peak above 14,500aton,settlingcloserto14,500 a ton, settling closer to 13,000 amid technical disruptions at the LME, and a sharp shift in positioning by Chinese traders. The move marked a pause after a relentless run driven by Chinese demand, ene ...