Stacks (stx) 
Crypto Market Sees Massive Liquidations, Wiping Out Billions in a Day
The cryptocurrency market has experienced a significant downturn, resulting in massive liquidations across various digital assets. According to recent data, over $1.7 billion has been wiped out in just a day of trading, marking one of the largest liquidations in a year.
Market Liquidations Breakdown
At the time of writing, long positions accounted for over $1.53 billion in liquidations, while short positions totaled $155 million. Small-cap cryptocurrencies led the liquidations, with $564 million in the past 24 hours, dominated by long positions of $543 million and short positions of $21 million.
Ethereum was the second-largest token to experience significant liquidations, with $235 million – $214 million in longs and $21 million in shorts. The token’s price dropped 7% from its highest level of the day to $3,686.
Bitcoin also saw substantial liquidations, with $182 million – $140 million in longs and $42 million in shorts. The price of Bitcoin fell below the $100,000 psychological level, reaching around $96,652 in a day.
Exchange Liquidations Data
Data shows that Binance recorded the largest liquidations, with over $739 million, followed by OKX and Bybit with $422 million and $369 million, respectively. The largest single liquidation was Ethereum-USDT on Binance, totaling $19.69 million.
Market Impact
The recent liquidations have had a significant impact on the cryptocurrency market. The market cap fell by 6.62% to $3.44 trillion, while the market volume increased 113% to $313 billion in a day of trading.
These massive liquidations are a reminder of the volatility and risks associated with investing in cryptocurrencies. As the market continues to evolve, it is essential for investors to stay informed and adapt to changing market conditions.
For more news on the crypto market and insights into the world of finance, visit Global Crypto News.
“Crypto newcomers have entered the market, leading to an increasing trend of liquidations over the year.”
Tips for Crypto Investors
When investing in cryptocurrencies, it is essential to:
- Conduct thorough research and stay informed about market trends
- Diversify your portfolio to minimize risks
- Set realistic expectations and be prepared for market volatility
- Use stop-loss orders to limit potential losses
By following these tips and staying up-to-date with market news, investors can navigate the complex world of cryptocurrencies and make informed investment decisions.
