In the crypto market, it is not uncommon for digital assets to experience sharp price fluctuations. According to data from coin analytics provider CoinGlass, the total liquidation over the past 24 hours has exceeded $142 million. Bitcoin (BTC) was the major driver for this surge in liquidation, with 1.91K worth of BTC liquidated, totalling a value of $50.26 million. Ethereum (ETH) also suffered a price drop, where a total of 17,000 ETH was liquidated, equalling to a value of $29.93 million.
Popular meme token, PEPE, also experienced a great drop and has seen a liquidation of 5.6 trillion tokens which equate to $7.20 million. PEPE's first launch was successful, with it achieving heights in less than a month and allowed a number of millionaires to be made. Other tokens such as Arbitrum, Litecoin and Dogecoin also experienced a significant amount of liquidation.
OKX reportedly had the greatest amount liquidated, followed by Binance and then Bybit. As the crypto market is often unpredictable and dynamic, investors need to be especially attentive of price changes, as it can have a major impact on their portfolios. As such, it is extremely important to take active steps in order to minimise potential losses if market prices take a dramatic turn.
Nicholas Howard
- 2023-05-12
Crypto Market Price Drop Leads to Significant Losses
In the crypto market, there was a major price drop that led to $142 million in liquidation over the past 24 hours. Bitcoin (BTC) and Ethereum (ETH) dropped significantly and there were also large losses with meme tokens such as PEPE and OKX.
