Despite slight volatility at the peak of bullish market growth, many traders still sold out
The market may well be on a positive growth trajectory as seen over the past 24 hours, so many short traders are still being liquidated. Through According to data from Coinglass, a total of 42,040 traders were liquidated in the last 24 hours, which shows how unpredictable the market is in general.
According to the data, these traders lost a cumulative valuation of $110.64 million across more than 12 major cryptocurrencies. Ethereum (ETH) recorded the highest liquidations during this period, the second time in about two weeks that the digital currency will top the charts.
An approximate total of 19.81 ETH tokens were liquidated with a value of $26.29 million. In contrast, only 924.59 BTC units were liquidated for a monetary value of $15.93 million. Other digital currencies that make up the top five most liquidated coins are Gala (GALA), Aptos (APT), and Solana (SOL).
By a very large percentage, Binance saw the most liquidations over the given period, a trend that aligns with the current outflow of funds from the world’s largest trading platform by volume. According to data from Coinglass, a total of 79.36% of short positions were liquidated across all areas.
Slight Crypto Volatility
The number of liquidations was minimal compared to previous events which can be worth hundreds of millions of dollars. The minimal liquidation record stems from the slight volatility that is exhibited in the crypto ecosystem across the board.
The combined market capitalization of the digital currency is pegged at $850.29 billion atop a marginal loss of 0.23% in the past 24 hours. Of the liquidated coins mentioned above, only Solana is trading at a loss of 2.33% at the moment, which lends credence to the idea that there is slight volatility across the board.
