Crypto Market Hit by $500 Million Liquidation Tsunami as XRP Plunges 10%

Bitcoin (BTC) recently slipped to the $95,000 level

According to data provided by cryptocurrency analytics CoinGlass, $495 million worth of crypto has been liquidated over the past 24 hours.

Long positions account for the vast majority of these liquidations ($382.7 million).

Overall, 197,083 traders were liquidated over the past 24 hours, with the largest liquidation taking place on Binance ($13.24 million).

Binance, OKX, and HTX are in the lead when it comes to liquidated crypto.

The latest string of liquidations amid a significant market correction.

XRP plunged by more than 10% earlier this Sunday before paring some losses. It is still up by nearly 30% over the past week.

Bitcoin, the leading cryptocurrency by market cap, also plunged to the $95,000 level after failing to touch $100,000 on Friday.

As reported by U.Today, Galaxy Digital CEO Mike Novogratz recently warned that corrections were "inevitable." However, he is convinced that Bitcoin will eventually reclaim $100,000.

About the author

Alex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at [email protected].

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Crypto Market Hit by $500 Million Liquidation Tsunami as XRP Plunges 10%

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