According to data from Coinglass, over $137 million in Bitcoin and altcoins were liquidated within 24 hours as the crypto market began to decline. Here are the latest happenings in the cryptocurrency market…
Bitcoin crashed: Millions liquidated
The data indicates that the price of Bitcoin (BTC) has fallen by 2.49% in the last 24 hours. Therefore, it shows that it is dragging most altcoins with it. Of the $137.22 million liquidated in one day, $62.9 million came from BTC. This accounts for more than 45 percent of the total amount. Another big piece came from Ethereum (ETH) with $31.53 million. The remaining altcoins each registered about $2 million in liquidation. Also, according to data that classifies liquidations by exchanges, most liquidations resulted from long positions.
OKX stood out as the exchange that facilitated liquidation the most, with $47.63 million, representing 34.71 percent of the total amount liquidated in the last 24 hours. Binance followed OKX in a close second with $45.39 million in liquidation. cryptocoin.com data shows that 91 coins have recorded a price drop in the last 24 hours. The biggest drops were recorded by XinFin (XDC), SingularityNET (AGIX) and Stacks (STX) with 6.68 percent, 6.37 percent and 5.71 percent, respectively.
Besides BTC, which lost 2.49 percent of its value, ETH, XRP (XRP), Cardano (ADA) and Solana (SOL) fell 3.05 percent, 2.83 percent and 5.4 percent, respectively. Despite the general decline in the market, the data reveal that the industry has grown by 16.77 percent in the last 24 hours.
What is the latest situation in BTC price?
Last week, Bitcoin moved between $27,000 and $30,000. As of now, BTC is down 2.3 percent and is below $29,000. Its market cap has dropped to $550 billion and its dominance over altcoins has dropped slightly to 46.9 percent on CMC. When BTC has more volatility, altcoins are feeling it too. Also, Ethereum has been sitting calmly at $1,900 for the past few days. However, a 3.3 percent daily drop pushed it to $1,850 as of now.
Ripple, Cardano, Dogecoin, Polygon, Polkadot, Litecoin, Shiba Inu and Avalanche also fell. Binance Coin has managed to defy the general sentiment. BNB rose almost 4 percent in one day. More losses are seen in ATOM, ICP, APE, as well as most other medium and small altcoins. In contrast, PEPE rose over 90 percent on a daily scale after being listed on OKX. cryptocoin.com As we have also reported, it has entered the top 100 coins according to its market value. Speaking of total crypto market cap, it lost around $30 billion daily. Thus, it fell well below $ 1.2 trillion.
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