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HomeBitcoin$400,000,000 Liquidated In 24 Hours as Bitcoin, Ethereum, Solana Downtrends Continue

$400,000,000 Liquidated In 24 Hours as Bitcoin, Ethereum, Solana Downtrends Continue

Bitcoin (BTC), the largest cryptocurrency by market capitalization, has led the market downtrend, after dumping to another 3-week low. Most altcoins, such as Ethereum (ETH) and Solana (SOL) have followed the negative trend to record even more losses.

This major volatility has caused significant pain for over-leveraged investors in the crypto market. The liquidation recorded so far after Bitcoin lost about $3,000 of its value within a day, is now surpassing a whopping $400 million based on a 24-hours scale.

Read Also: Fundstrat Global Partner Highlights How $100 Trillion Investor Class Could Send Bitcoin to $200k

At the time of filing this report, Bitcoin, Ethereum, and Solana are trading at $37220, $2550, and $83.90, respectively.

$400 Billion Evaporated From Crypto Market within a Week

It’s safe to say that the cryptocurrency landscape has seen better days as roughly $400 billion has been evaporated from the entire market cap in less than a week.

Bitcoin had already lost the $40,000 crucial support level and dipped to $38,000 before a brief price resurgence drove the asset back to the top. Howbeit, the positive trend did not last. It resulted in BTC dumping once more – this time to just over $36,000, which became the new lowest price point since third February.

The altcoin market lost even more. Digital assets such as XRP, Cardano (ADA) Dogecoin (DOGE), Shiba Inu (SHIB), Polygon (MATIC), and others, experienced double-digit price falls.

Ethereum and Binance are among the few whose price declines are still only by single digits, but both are deep in red nonetheless.

Read Also: Warren Buffett Dumps Visa and Mastercard Stocks to Invest $1 Billion in Bitcoin-Friendly neobank

To a reasonable extent as expected, this enhanced volatility has massively increased the liquidations and the number of liquidated traders in the market.

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According to the data provided by Coinglass, $400 million worth of liquidation from over 120,000 liquidated traders have been recorded within the last 24 hours.


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Solomon Odunayo
Solomon Odunayo
Solomon is a trader, crypto enthusiast, and analyst with over four years of experience in the industry. He strongly believes that crypto assets and the blockchain will continue to gain prominence. At TimesTabloid.com, he focuses on news, articles with deep analysis of blockchain projects, and technical analysis of crypto trading pairs.
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