Bitcoin (BTC) Hundreds of thousands of crypto traders have been liquidated after the price slumped to a 10-month low, and the rest of the digital asset market is experiencing a massive sell-off.
According to data shared by cryptocurrency futures trading and data provider Coinglass, $1.01 billion worth of positions have been liquidated in the last 24 hours alone.
Cryptocurrency Traders expecting a jump in their markets were shocked by the liquidation of nearly $750 million worth of long positions last day. Volatility had also liquidated $200 million of short positions in the same time frame.
With the bearish momentum gripping the crypto markets, traders trying to time Ethereum (ETH) on May 9 experienced the largest liquidation, with 152,380 ETH worth around $340 million. While preparing the news, Ethereum (ETH) It is trading at $2,272, down over 10% in the last 24 hours.
Bitcoin traders also couldn’t escape the market crash as the leading crypto asset by market cap dropped to $30,290, while 11,040 BTC worth $333.53 million was breached, a level not seen since July 2021.
In third place was the decentralized finance payment network Terra (LUNA). Coinglass found that 1.97 million LUNAs, worth over $55 million, have left the markets in the past day. LUNA is trading at $37.52, down over 40% in just 24 hours.
As a result, Coinglass reported that 259,220 traders were liquidated in the last 24 hours.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.