Crypto Liquidations Surge: Ethereum (ETH) Leads with Over $344 Million Liquidated
The cryptocurrency market has experienced a significant shakeup, with total liquidations surpassing $344 million. Recent data reveals a turbulent market where even established cryptocurrencies are facing substantial volatility.
Ethereum (ETH) Takes the Lead in Liquidations
While dropping below the $1,900 range today, Ethereum (ETH) has taken the lead in total liquidations across the crypto market, surpassing Bitcoin. Recent data from Coinglass highlights this trend. Long ETH positions were particularly affected, with Coinglass data revealed that $140 million worth of long ETH positions were liquidated, setting the stage for Ethereum to lead the overall liquidation figures.
Bitcoin and Ethereum Lead $724M in 24-hour Crypto Liquidations
The impact extends beyond Ethereum. As recently reported, Bitcoin and Ethereum led $724M in 24-hour crypto liquidations, demonstrating the widespread nature of the market downturn. The crypto market cap has seen a corresponding drop, falling to $3.33 trillion after a sharp price dip.
Thousands Liquidated Amid Price Volatility
Thousands of traders have been liquidated amid this market volatility. Ethereum took the hardest hit, leading the liquidation spree with $617.35 million, followed by Bitcoin at $418.20 million. Other altcoins also faced sharp declines, highlighting the broad impact of the recent market fluctuations.
Bitcoin's Role in the Liquidations
While Ethereum currently leads in liquidation volume, Bitcoin's significant liquidations cannot be ignored.
While Bitcoin's losses are not leading in this timeframe it highlights a greater turbulent market trend.
Altcoin Rebound Uncertain
The recent liquidations raise questions about the potential for an altcoin rebound. The market sentiment remains cautious amid the backlash, and the future trajectory of altcoins remains uncertain. Investors are closely monitoring market developments to assess the possibility of recovery and identify potential investment opportunities.
According to Foresight News, recent data from Coinglass reveals that the global cryptocurrency market experienced a liquidation of approximately $344 million within this short period, demonstrating the rapid shifts in market conditions.
Crypto Liquidation has topped the $334 million threshold, which is another indicator of an upward trend. Bitcoin, Ethereum, and XRP led the selloff amid a turbulent market.