Crypto market has seen its first massive wave of liquidations in more than month
This is the biggest amount of liquidated crypto since early March. Back then, more than $1.1 billion was liquidated in the span of a single day after BTC tumbled 10% shortly after reaching new highs.On Saturday, the price of Bitcoin flash-crashed more than 8% due to growing tensions in the Middle East. Iran launched hundreds of drones and missiles at Israel in a retaliatory attack.The largest single liquidation order took place on Binance, amounting to $8.46.
Overall, roughly 260,000 cryptocurrency traders have been liquidated over the past 24 hours during one of the crypto market's worst crashes in years. Notably, OKX is ahead of Binance in terms of total liquidations . Huobi, BitMEX, CinEX and Bitfinex are also among the top cryptocurrency exchanges when it comes to total liquidations., major altcoins, including Dogecoin and Shiba Inu , managed to see a brief relief rally, which resulted in some short positions being liquidated. However, the total cryptocurrency market cap is still down significantly over the past day.
Bitcoin and Ethereum are, of course, in the lead when it comes to total liquidations. Solana and DOGE come in third and fourth places, respectively.Alex Dovbnya is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets.
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