Tokens drop 6% as weekend liquidations hit crypto majors
Crypto markets extended their weekend slide with losses broadening across major tokens and high-beta altcoins, as futures liquidations piled up following weakness in bitcoin.
Ether bore the brunt of the damage. The second-largest cryptocurrency saw roughly $385 million in liquidations over the past 24 hours, the largest of any asset, as its price slid sharply alongside a wider risk-off move. Bitcoin followed with about $188 million in liquidations, while losses accelerated across solana, XRP and a long tail of altcoins.
Liquidation data shows the selloff was skewed one-sided. Long positions accounted for the vast majority of forced exits, with short liquidations barely registering. That imbalance points to traders being caught…
