Crypto Market Sees $169M in Liquidations, Mostly Long Positions

In the past 24 hours, there have been $169 million in liquidations on the network, with $123 million from long positions and $45.93 million from short positions. This data comes from Coinglass.

In the past 24 hours, there have been $169 million in liquidations across the network, with $123 million from long positions and $45.93 million from short positions. This data, sourced from Coinglass, provides a snapshot of the volatile nature of the cryptocurrency market [1].

Bitcoin, the largest cryptocurrency by market capitalization, saw a substantial portion of its liquidations. According to ChainCatcher, citing data from Coinglass, Bitcoin long positions were liquidated for $14.7886 million, while Bitcoin short positions were liquidated for $19.3831 million [2]. This indicates that while the market experienced significant selling pressure, there were also substantial buy orders.

Ethereum also saw notable liquidations. Long positions were liquidated for $23.6122 million, and short positions for $36.8612 million. This data underscores the high volatility in the second-largest cryptocurrency by market capitalization [2].

XRP, the third-largest cryptocurrency by market capitalization, experienced a liquidation event that shocked the crypto community. According to Coinglass, XRP's total liquidation over the last hour reached $288.28k, with long-position traders suffering the least liquidations of just $4.85k. Meanwhile, short traders were seen catering to nearly all the total liquidations recorded during the period, putting them at losses of $283.44k [3].

These liquidations highlight the importance of risk management and the need for investors to stay informed about market conditions. The crypto market's volatility can lead to significant losses for those who are not prepared. As such, investors should consider diversifying their portfolios and employing effective risk management strategies.

References:
[1] https://www.bitget.com/news/detail/12560604852853
[2] https://u.today/xrp-reversal-shocks-crypto-community-with-5744-liquidation-imbalance
[3] https://beincrypto.com/top-crypto-airdrops-july-second-week/