XRP, SOL, ADA in Deep Red as Crypto Market Experiences 1,078% Liquidation
The crypto market is facing one of its most violent shakeouts in recent weeks, with major cryptocurrencies like XRP, Solana (SOL) and Cardano (ADA) recording significant losses.
A staggering 1,078% spike in crypto liquidations over the last 24 hours has wiped out $1.44 billion in positions, according to CoinGlass data, sending shockwaves across the digital asset space. Longs took the heavier hit, with $1.22 billion wiped out compared to $220 million in shorts.
Crypto liquidation refers to the process of forcibly closing a trader’s positions on the cryptocurrency market. It occurs when a trader’s margin account can no longer fund their open positions…
