Key Notes
- The crypto market has recorded $333.59 million in liquidation from 97,654 traders across several digital assets.
- Bitcoin liquidation topped the list, with a value of $125 million.
- Short traders were primarily affected by the liquidation, according to the Coinglass heatmap.
Digital asset liquidation has surged to over $325 million in the last 24 hours, affecting more than 97,654 traders.
According to Coinglass data, the total liquidations amounted to $333.59 million, with the most significant single liquidation order occurring on Binance, and valued at $8.87 million.
Short Traders Bear the Brunt of Crypto Liquidations
In the 24-hour liquidation, short traders were affected the most, suggesting that the crypto landscape is experiencing some recovery, to the disappointment of some investors.
Liquidation from Bitcoin
BTC
$109 583
24h volatility:
1.2%
Market cap:
$2.18 T
Vol. 24h:
$37.43 B
totaled $125.6 million, comprising $12.75 million from long traders and $112.14 million from short traders.
Ethereum
ETH
$2 586
24h volatility:
3.8%
Market cap:
$312.15 B
Vol. 24h:
$25.39 B
suffered a combined liquidation of $121.4 million, with a long position of $18.67 million and a short position of over $102 million.
Solana
SOL
$151.6
24h volatility:
0.6%
Market cap:
$81.10 B
Vol. 24h:
$5.39 B
liquidation reached $12.30 million, with long traders incurring losses of up to $3.97 million and short traders incurring losses of $8.32 million.
The CoinGlass liquidation heatmap indicates that other digital currencies were similarly affected by the broader crypto market liquidation.
Liquidation heatmap. Source: coinglass.com
Most of these short traders must have drawn their inference from the recent market outlook, especially with several altcoins soaring.
For instance, the SOL price has been declining for the past few weeks, reaching a low of $128. However, recent happenings in the ecosystem have triggered some profit for the altcoin.
Over the past week, the SOL price exploded, jumping from $128.34 to a high of $145. This coincided with a period when its market capitalization stood at $76.88 billion and its trading volume reached $6.11 billion.
At the time, technical indicators were already looking like SOL could be on track to reach $161 in the mid-term.
A few days later, the SOL price remained locked below $145. This was even after Sol Strategies announced the acquisition of 52,181 JTO tokens from Jito, a major liquid staking protocol. More recently, the price of SOL eventually entered $160.
Besides Bitcoin, Ethereum, and Solana, other top altcoins fueling this intense bullish liquidation include Cardano
ADA
$0.60
24h volatility:
3.6%
Market cap:
$21.52 B
Vol. 24h:
$1.09 B
, Dogecoin
DOGE
$0.17
24h volatility:
4.7%
Market cap:
$25.85 B
Vol. 24h:
$2.02 B
, and XRP
XRP
$2.27
24h volatility:
2.8%
Market cap:
$133.97 B
Vol. 24h:
$4.84 B
.
Get In Early on Snorter Bot Before It Goes Parabolic
The recent hype in the Solana ecosystem appears to be fueling excitement around a new meme crypto trading bot called Snorter Bot.
Embracing the wild spirit of the snorty aardvark, Snorter Bot arms traders with powerful real-time insights and seamless trading tools, designed to help you stay ahead and make sharper, faster decisions in the ever-evolving crypto market.
SNORT isn’t just another meme coin, it’s a potential millionaire-maker. But timing is everything. Those who’ve already jumped into the presale are positioning themselves early, letting their investments start working before the token even hits the open market.
So far, the Snorter Bot project has raised an impressive $1,3M, and the momentum is only growing.
Current Presale Stats
Current Price: $0.0971
Amount Raised So Far: $1.3 million
Ticker: SNORT
Operating Platform: Telegram
There’s just about a day left to buy SNORT at the current presale price before it increases. You can purchase tokens using crypto, credit, or debit cards. Check the presale page for full details on Snorter Bot’s features.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
