Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions.
We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.Liquidation of long positions accounts for the majority of the wipeout on the market. Long position liquidations stood at $342.34 million, while short position traders liquidated $141.34 million in the last 24 hours. Ethereum (ETH) led the altcoins with a total liquidation of $86.43 million. Long position traders saw a liquidation worth $44.76 million, with short positions accounting for $41.67 million. This comes as the price of ETH dipped to a low of $3,209.21 in previous trading before beginning to post a rebound to the current level. Solana (SOL) had twice as many long-position liquidations as short-position traders. SOL’s cumulative liquidation stood at $16.68 million, with $10.79 million and $5.90 million for long-position and short-position traders, respectively. The coin, which hit a low of $188.96, is currently being exchanged at $191.76. XRP’s total liquidation comes in at $14.16 million, of which $9.28 million represents a long position and a $4.88 million short position sell-off. XRP, though more resilient than the rest, has also experienced a 12.86% decline in trading volume to $7.72 billion, with its price currently at $2.32.The bulk of the liquidations took place on Binance, OKX and Bybit. Binance had a total liquidation of $202.02 million, representing 41.69%. Long-position traders accounted for 70.97% of these liquidations.OKX registered $140.33 million, or 28.96% of total liquidations. Bybit, with 18.98% of the losses, recorded $91.99 million cumulatively. Meanwhile, HTX and CoinEx account for about 10.02% of liquidations. Analysts believe the rapid decline of Bitcoin, the leading digital asset, contributed to the widespread liquidation seen on the market. With speculation that Bitcoin has entered its distribution phase and likely will not record an appreciable surge soon, many investors appear cautious on the broader market. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.Godfrey Benjamin is an experienced crypto journalist whose main goal is to educate everyone around him about the prospects of Web 3.0. His love for crypto was birthed when, as a former banker, he discovered the obvious advantages of decentralized money over traditional payments. With his vast experience covering various aspects of Web3, Godfrey's articles has been featured on Blockchain.news, Cryptonews and Coingape, among others
Malaysia Malaysia Latest News, Malaysia Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Crypto Market Liquidations Surge, XRP Tops the ListThe cryptocurrency market experienced a significant wave of liquidations, resulting in nearly $800 million in trader losses. XRP emerged as the most liquidated cryptocurrency, highlighting both increased trading activity and price volatility.
Read more »
Dogecoin Liquidations Show Market Imbalance as Bulls SurgeDogecoin perpetual futures saw a dramatic imbalance in liquidations, with shorts exceeding longs by 400%. This surge follows a 6% price increase in Dogecoin over 24 hours, highlighting a market trend of unexpected price swings. Overall, $201.55 million in liquidations occurred across the market, with a higher proportion of shorts liquidated, indicating risk aversion and potential for future volatility.
Read more »
Litecoin Price Slumps as Crypto Market Faces $500 Million LiquidationsLitecoin (LTC) has experienced a significant price decline, trading around $102 on Wednesday after a nearly 10% drop in the previous day. This downturn coincides with a broader sell-off in the cryptocurrency market, triggered by hotter-than-expected US JOLTs jobs data which fueled hawkish expectations. The data led to over $500 million in liquidations across the crypto derivatives market. On-chain metrics reveal growing bearish pressure, with 40,000 LTC wallets being closed in recent days. Litecoin's price is struggling to hold the $100 support level amid this market volatility.
Read more »
Crypto Market Surge to New All-Time HighThe cryptocurrency market soared to a new all-time high of $3.73 trillion on Tuesday, driven by Bitcoin's record-breaking price and gains in altcoins like Solana, Litecoin, and Monero. Traders anticipate a third consecutive rate cut by the Federal Open Market Committee, fueling bullish sentiment. The US sanctions on a North Korean crypto laundering network boosted demand for privacy-focused coins.
Read more »