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Over $875M in Crypto Market Liquidations in the Past 24 Hours

The previous 24 hours have seen significant bleeding in the cryptocurrency market. The market value of the entire world fell by 6.8% to $950 billion. In the last 24 hours, about $875 million has been sold, and bitcoin has fallen 11% to about $18,400.

In terms of liquidations, Bitcoin lost the most, with traders losing almost $233 million in BTC. Ether came next, liquidating $175 million. The recently discussed FTX and Solana tokens were followed by liquidations of $41.5 million and $28.4 million, respectively.

With a BTC/USDT value of $6.7 million, Binance had the single highest liquidation. Overall, positions for almost 380,000 dealers were liquidated. The majority of these liquidations, which totaled $243 million, happened on Binance.

The turnaround has had a significant impact on traders who had been looking for the market to recover. As the market approaches the end of 2022, Bitcoin and other cryptocurrencies have been looking positive, but there might still be drama.

 

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.