Also, over 70% of liquidations were witnessed across various major exchanges. The data indicated that a substantial portion of investors holding short positions faced liquidation. Short positions see more liquidationsĬoinglass’ data further revealed that the liquidations primarily targeted short positions in the market. Other affected cryptocurrencies included king coin Bitcoin, with over 1 million coins. The tokens were equivalent to a value exceeding $1 million. Ethereum took the lead in liquidation volume, with over $2 million currently liquidated.Īdding to the liquidation statistics was memecoin Pepe, which ranked second, with a staggering liquidation of over 640 billion PEPE. At the time of writing, the liquidation amount stood at approximately $52 million, having previously surged past $100 million. Crypto market witness over $50 million in liquidationsĪccording to the latest data from Coinglass, the crypto market experienced an extraordinary 24-hour liquidation surpassing the $50 million mark. However, hot on its heels was a memecoin that had been capturing the attention of enthusiasts worldwide. Ethereum took the lead in this wave of liquidation. The Flux Ecosystem is a fully-operational suite of decentralized computing services and blockchain-as-a-service solutions. Short positions take a hit as investors face substantial liquidations.ħ May witnessed a dramatic event in the crypto market as over $50 million worth of investments got liquidated.
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