NEARLY US$300 MILLION LISTED IN THE LAST 24 HOURS
Over the past 24 hours, the crypto market has recorded a total liquidation value of $298.51 million, affecting more than 110,000 traders.
Data from Coinglass shows that long traders incurred a total loss of $275.31 million. Of these losses, Bitcoin and Ethereum accounted for the most with $130.46 million.
Meanwhile, short traders were liquidated for a total of $23.2 million. The top two assets, Bitcoin and Ethereum, contributed around 49.5% of this total loss.
Other assets such as BNB, Chainlink, XRP, Litecoin, and Solana were liquidated for less than $2 million.
On exchanges, OKX, Binance, and ByBit are where most of the liquidations take place, accounting for 75% of all liquidations, of which 92% are long positions. Other exchanges like Huobi, Deribit, and Bitmex also recorded a large amount of liquidation.
Among the significant liquidations, Bitmex recorded a significant level with the XBTUSD transaction, valued at $9.94 million.
MARKET IN THE RED
Bitcoin experienced a price drop from over $27,000 to under $26,000 within an hour and is currently trading at $25,645 at press time, its lowest price since March 17.
The price of Bitcoin overall has dropped by almost 5% in the past 24 hours.
BNB, the token of Binance, recorded the highest loss with a drop of nearly 9% to $277, while Ethereum (ETH) dropped 4.2%. Other top digital assets such as XRP, Cardano (ADA), Dogecoin (DOGE) and others also reported significant losses during the period.
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