CandleFocus

Small-cap crypto lead $1.7 billion liquidation, market cap falls 6%

The crypto market experienced a significant outbreak in just one day, resulting in massive liquidations and a decrease in market cap. Traders witnessed major liquidations, totaling $1.7 billion, with over $1.53 billion spent in long positions and $155 million in short positions. Small-cap cryptocurrencies led the liquidations, with $540 million lost in 24 hours. Ethereum saw $235 million in liquidations, while Bitcoin saw $182 million. Binance recorded the largest liquidations, with over $739 million. The market cap decreased by 6.62% to $3.44 trillion, while the market volume increased by 113% to $313 billion. These liquidations mark the highest in the past year and indicate an increasing trend.

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