CandleFocus Crypto Liquidations Hit $271 Million, What's Going On?
2024-10-24
Author: Content Editor
The crypto market appears to be in recovery mode, but liquidation figures tell a different story. According to data from CoinGlass, the total liquidation surpasses $271 million, the highest so far this week. Ethereum leads the trend, with a loss of $72.97 million. Long traders suffered the most as the price dropped from $2,605 to $2,542.01. Bitcoin also saw a massive liquidation of $56.55 million, with long traders accounting for around $28.62 million. Other cryptocurrencies like Solana and NEIR also experienced liquidation. Assets like Shiba Inu had limited exposure with less than $1 million in liquidation. Despite these trends, activities within the ecosystem, such as Ethereum's gas fee dropping and new plans to scale the protocol, continue to generate hype and interest.
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