Crypto liquidation over $1b, why is crypto crashing?
The crypto market is in a state of widespread panic as total crypto liquidations reached over $1.30 billion in the span of 24 hours. Traders on X are accusing exchanges of ‘capping’ long liquidations and manipulating the market.
According to data from Coinglass, in the past 24 hours, 367,789 traders saw their long and short positions liquidated, with total liquidations coming up to $1.34 billion. So far, the largest single liquidation order happened on Binance – BTCUSDT, with a transaction value of $20.80 million.
In the past 8 hours, at least $235 billion has been wiped off the crypto market cap, equal to a nearly 9% drop. Major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) and Solana (SOL)…
