TL;DR
- More than $400 million liquidated from the crypto market in the last 4 hours.
- Binance recorded the highest number of liquidations.
- BTC and ETH suffered drops of 6.5% and 7.3% in the last 24 hours, respectively.
Volatility in the cryptocurrency market has returned with a sudden sell-off that has shaken investors in recent hours.
More than $400 million has been liquidated in the crypto market in a span of just four hours, a worrying sign for those who have been closely following market fluctuations.
The epicenter of this massive liquidation has been Binance, the main cryptocurrency exchange platform worldwide.
Recording the highest number of liquidations in the last 24 hours, totaling $227 million, Binance has witnessed a flurry of selling activity that has left many investors baffled.
The two main cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH), have not escaped this wave of liquidations unscathed.
BTC has seen a 6.5% decline, while ETH has fallen 7.3% in the last 24 hours.
This drop in prices has led to a significant increase in trading volume for both cryptocurrencies, with an increase of 105.50% for BTC and 82% for ETH.
CoinGlass data analysis reveals that more than $ 90 million was liquidated in the last four-hour period, indicating frenetic selling activity in the market.
In total, $489.6 million were settled in the last 24 hours, with a total of 112,445 operators affected by these settlements.
This recent sell-off is a reminder of the volatility inherent on the cryptocurrencies market
Although Bitcoin peaked at $73,500 in March, marking an incredible milestone, it also triggered a $1 billion liquidation in just 24 hours, sparking discussions about the stability and sustainability of the market.
Amid the uncertainty, a single liquidation order in the OKX-ETH-USD pair of $7.48 million stands out as the largest of its kind.
Exchange platform OKX also recorded the second-highest number of liquidations, reaching a total of $162 million.
The recent sell-off in the crypto market has raised concerns about the short-term stability of the market.
Investors are closely watching price movements and market trends for signals that can guide their future decisions.
