Hundreds of millions of dollars worth of crypto assets are being liquidated as the leading digital asset, Bitcoin (BTC), sees a 10% drop in price.
New data from market intelligence firm CoinGlass reveals that approximately $601.20 million worth of crypto holdings have evaporated in the last 24 hours amid a sharp decline in crypto markets.
The most affected positions are related to BTC, followed by the main altcoin Ethereum (ETH). Coinglass reveals that in the last 24 hours, $223.06 million worth of Bitcoin positions have been wiped out, while the value of liquidations on Ethereum positions is approximately $162.48 million.
Bitcoin is trading at $21,401 at the time of writing, down 8.85% in the last 24 hours, while Ethereum is currently changing hands for $1,699.
Other notable digital assets that saw selloffs include Ethereum Classic (ETC), scalable smart contract blockchain Solana (SOL), and decentralized storage network Filecoin (FIL). Virtual assets recorded $25.68 million, $14.86 million and $12.44 million in liquidations, respectively.
Positions in Dogecoin (DOGE), smart contract blockchains Cardano (ADA), Avalanche (AVAX), EOS, decentralized blockchain Oracle Chainlink (LINK), Ethereum scaling solution Polygon (MATIC), and XRP they have also recorded settlements worth between four and ten million. dollars in the last 24 hours.
According to CoinGlass, this is the highest level of liquidations since June 13, when cryptocurrencies worth more than $1.3 billion were decimated in 24 hours.
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