More than 253,000 traders liquidated as cryptocurrency continues

More than 253,000 traders liquidated as cryptocurrency continues

Crypto bloodshed has left thousands of traders in a bad way. The sharp drop in prices has led to more than 240,000 rect traders in the 24-hour range. As the declining trend continues, more and more investors are adding to the long line of losers, most of whom are long-term traders. As it stands now, almost a billion dollars have been liquidated on the market so far, and this number continues to grow, and bitcoin is falling below 24,000 dollars.

Over $ 940 million in crypto liquidated

In the last 24 hours, the liquidations that shook the crypto market have been brutal. Most of the liquidations come from the largest digital assets in the universe, but Bitcoin has once again borne the brunt.

Long traders hoping for a further recovery in prices have been hit hard in space. Although most liquidations were long liquidations, this does not mean that short traders were spared. What has happened is that as price fluctuations continue, many traders are blinded and their positions are liquidated in an instant.

Related Reading | American macro pressure is responsible for the whole trend of falling Bitcoin

So far, just over 253,000 traders have been liquidated in the past day alone, but that number is growing rapidly. Data from Coingglass shows that $ 596.99 million of debt was liquidated, which is 63.25% of the total rect volume. While 346.86 million dollars of shorts were liquidated, which makes the remaining 36.75% of losses.

Market cap losses more than $100 billion | Source: Crypto Total Market Cap on TradingView.com

Bitcoin, Ethereum, record big losses

As expected, the biggest players had the most losses in the past 24 hours. What is more interesting is the amount of digital assets that retailers have lost. For bitcoin alone, more than 16.84 thousand BTCs were liquidated. This amounts to $ 399.38 million. As for Ethereum, it tells an almost identical story with the liquidated 298.96 thousand ETH, which totals 356.82 million dollars.

Related Reading | Head to Head: Bitcoin, Ethereum profitability for investors

Even smaller altcoins are not spared attacks. Solana, which was one of the biggest losers when it comes to the fall of the market, led to it turning into liquidations. As digital assets finally fell below $ 30, long liquidations increased, leaving traders losing 699.32 thousand SOL or $ 18.59 million in the last 24 hours.

Other biggest losers include FLM with $ 11.99, GMT with $ 7.86 million, ADA with $ 7.53 million and TRX with $ 5.85 million. Other significant assets also recorded significant losses, with XRP, LUNA, DOGE and AVAX recording liquidations of $ 5.54 million, $ 5.19 million, $ 4.84 million and $ 4.72 million, respectively. Litecoin finished among the top 12 with liquidations of $ 4.60 million.

Featured image from Chemistry World, chart from TradingView.com

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