Ethereum is one of the biggest losers on a daily scale as the asset fell to its lowest position in over a year. Naturally, this has caused massive pain for some traders as liquidated ETH positions exceed $200 million on a 24-hour scale.
- After a relatively positive trading week, bitcoin and the rest of the market went down hard yesterday, possibly thanks to record U.S. inflation (up 8.6% y/y).
- BTC fell from $30,000 to $29,000 fairly quickly, but most altcoins were hit harder.
- Solana, Avalanche, Polkadot and MATIC lost about 10% on the day. Dogecoin, Shiba Inu, Ripple and Cardano are also in the red. The total market capitalization is down more than $80 billion on the day to $1.150 trillion.
- Ethereum has lost over 10% on a daily basis. The second largest cryptocurrency has fallen below $1,600 to its lowest price since March 2021.
- As you might expect, the number of ETH liquidations has skyrocketed. On a 24-hour scale, they rose to around $230 million.
- general liquidation approaching $400 million, meaning that ETH-related positions account for more than half of all.
- Over the past 24 hours, over 100,000 traders have experienced collapses in their positions.
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Credit : cryptopotato.com