Per the data, a total of 184,532 traders have been liquidated over the past 24 hours, with the largest single liquidation by a trader worth $2.18 million.
Unusually, this liquidation has seen both Bitcoin (BTC) and Ethereum (ETH) jostle for the lead among the most liquidated tokens. In the past 24 hours, a total of $49.87 million worth of BTC has been liquidated, while the liquidated Ethereum tokens are pegged at $45.96 million.
While Bitcoin’s liquidation surpassed that of Ethereum in the 24 hour period, the tides appear to have shifted, with the latter now taking the lead in the hours before writing. Overall, more long traders were liquidated with the amount coming in at $343.1 million, with short liquidations accounting for just $42.79 million of the total figure.
The trigger for this current liquidation is even more pronounced as the United States Securities and Exchange Commission (SEC) top altcoins like Cardano (ADA), Solana (SOL) and Polygon (MATIC) as investment contracts or securities. With the tag, brokerage firm Robinhood (NASDAQ:HOOD) has that it will delist the tokens by the end of the month, a sign of instability and general uncertainty for the affected cryptocurrencies.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
