Massive liquidations impact the crypto market

The crypto market has seen the liquidation of more than 260 million dollars in recent days and ethereum recorded the largest losses

In recent days, the crypto market has been experiencing a liquidation process of more than 260 million dollars, while the most important cryptocurrencies in the system registered significant losses.

According to BeinCrypto, Ethereum operators saw the liquidation of more than 17,600 ETH at about 43 million dollars, while Bitcoin was liquidated at 31 million dollars and Luna was quoted at 2.77 million dollars.

The exchanges that recorded the most liquidations were OKex, FTX and Binance, but more than “69,000 traders lost their positions”.

The income to the different platforms for buying and selling virtual currencies increased. “BTC exchange inbound volume (7d MA) hit a three-month high of 1,755,021 BTC.”

Falling markets

Currently, all markets are registering a decline and the crypto market is no exception, but the trigger that caused this behavior in recent days is unknown.

The total crypto market capitalization dropped in 24 hours from “$1.75 trillion to $1.62 trillion, with a trading volume of approximately $102 billion.”

For its part, Bitcoin registered a market capitalization in the order of 638,000 million dollars, much less than the trillion dollars achieved last year.

This behavior gives strength to the idea of ​​some analysts, who consider that the cryptocurrency market “is moving more in line with traditional markets.”

M. Rodríguez


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