In the last 24 hours, the crypto market has experienced a massive wave of liquidations totaling $711.73 million, with Ethereum and Bitcoin among the hardest hit.
Ethereum Faces Significant Liquidations
Ethereum recorded $300.32 million in liquidations, accounting for nearly half of the total liquidations within the last 24 hours. This sharp decline highlights the current market instability, even among the most well-known digital assets, with 133,280 ETH being liquidated.
Top Liquidated Assets and Exchanges
Bitcoin also faced challenges, with over $154.24 million in liquidations. Additionally, Solana saw around 32.05 million SOL liquidated, indicating pressure in the altcoin market. Major exchanges with high liquidation volumes include Bybit, Binance, and Gate, with Bybit posting $310.76 million in liquidations.
Overall Trends and Implications of Liquidations
Main cryptocurrencies XRP and Dogecoin (DOGE) also experienced significant liquidations of $22.41 million and $11.25 million respectively. More than 178,000 traders have been liquidated in the past 24 hours, highlighting the volatility and speculative nature of the market.
The situation in the crypto market continues to be challenging, with sharp price fluctuations and mass liquidations of assets. These events underscore the risks associated with investing in cryptocurrency amid high volatility.
