Over $600,000,000 in Crypto Liquidated As Bitcoin (BTC) Plunges Almost 10% Within Hours
Hundreds of millions of dollars worth of crypto assets are being liquidated as leading digital asset Bitcoin (BTC) sees a 10% drop in price.
New data from market intelligence firm CoinGlass reveals that roughly $601.20 million worth of crypto positions have evaporated in the past 24 hours amid a sharp decline in crypto markets.
The positions most affected are related to BTC, followed by top altcoin Ethereum (ETH). Coinglass reveals that in the last 24 hours Bitcoin positions worth $223.06 million have been wiped out, while the value of liquidations in Ethereum positions is approximately $162.48 million.
Bitcoin is trading at $21,401 at the time of writing, down 8.85% in the last 24 hours while Ethereum is currently changing hands at $1,699.
Other notable digital assets that saw extensive sales include Ethereum Classic (ETC), scalable smart contract blockchain Solana (SOL) and decentralized storage network Filecoin (FIL). The virtual assets received $25.68 million, $14.86 million and $12.44 million respectively in liquidations.
Positions in Dogecoin (DOGE), smart contract blockchains Cardano (ADA), Avalanche (AVAX), EOS, decentralized blockchain oracle Chainlink (LINK), Ethereum scaling solution Polygon (MATIC) and XRP have also recorded liquidations of between four and ten million dollars the last 24 hours.
According to CoinGlass, this is the highest level of liquidations since June 13 when over $1.3 billion worth of crypto was decimated in 24 hours.
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