Crypto Market Liquidation: $342 Million in Long Positions Liquidated in 24 Hours
Crypto Market– The cryptocurrency market is currently experiencing significant liquidations as the prices of digital assets continue to fall. According to data from CoinGlass, liquidations across various exchanges amounted to $483.61 million in the last 24 hours.
Long Position Liquidations Dominate the Market
Long position liquidations have been the primary driver of the current market wipeout. A total of $342.34 million worth of long positions were liquidated, compared to $141.34 million in short position liquidations. Ethereum (ETH) led the altcoins in terms of total liquidation, with $86.43 million in liquidations. Of this, $44.76 million came from long positions, while $41.67 million was from short positions. Ethereum’s price dropped to $3,317.76, marking a 1.31% decline in the last 24 hours.
Solana (SOL) Sees Double the Liquidations in Long Positions
Solana (SOL) experienced double the liquidations in long positions compared to short positions. The total liquidation of SOL stood at $16.68 million, with $10.79 million from long positions and $5.90 million from short positions. The coin, which recently hit a low of $188.96, is now trading at $191.76. This shift marks a reversal from Solana’s earlier bullish momentum.
XRP Shows Resilience Amid Liquidation Wave
XRP had a total liquidation of $14.16 million, with $9.28 million from long positions and $4.88 million from short positions. Despite these liquidations, XRP remains more resilient than other altcoins, although it has seen a 12.86% drop in trading volume, now standing at $7.72 billion. XRP’s current price is $2.32.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
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