Crypto Market Review: $SOL is battling with increased liquidation volume while $MATIC and $FTM are trying to keep their gains in a correction
is here as the majority of digital assets are losing some of their previous gains or entering consolidations. Such a tendency was expected, but some assets need proper oversight.Solana has faced a major setback in the last two days. According to reports, the cryptocurrency has seen over $120 million in liquidations, causing its value to drop by around 10%.
Liquidations were caused by a sudden shift in the market, which saw bears provide significant pressure on Solana's price. As a result, the majority of long orders were removed from the market, demonstrating the inability of bulls to keep up with current market conditions.This news is particularly disappointing for Solana, which had been making significant gains on the market over the past few weeks.
However, the true reason behind MATIC's recent performance may be tied to the overall correction on the market and the outflow of funds from projects similar to MATIC, including Ethereum and Cardano. As the cryptocurrency market experiences a period of correction, many investors and traders are moving their funds into safer assets or taking profits from riskier investments.
The price of Fantom has been under selling pressure, and the recent drop in price is a sign of the challenges that the project is facing. The project has been heavily accumulated by whales recently, which could have contributed to the selling pressure on the market. In the last 24 hours, Fantom has lost around 7% of its value. While this may not seem like a significant drop, it is a worrying sign for the project, which has been performing well on the market until now.
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