CoinEx Token

BitMEX Token

The crypto market experienced a drastic decline on Sunday, which continues today. Top 7 Ico reports that the global crypto market cap has dropped 13.5%. It now stands at about $1.85 trillion.Over the last 24 hours, crypto-tracked futures registered over $1.14 billion worth of liquidations as the market sell-off became more severe on Sunday. The bloodbath was catalyzed by a stronger Japanese Yen and rumors of market maker Jump Trading liquidating its crypto business.Liquidated bets on Ethereum (ETH) futures totaled over $340 million. Losses on <a href="https://blockchainreporter.net/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin (BTC)</a> futures led the pack to almost $420 million. Futures contracts that tracked Solana (SOL), Dogecoin (DOGE), XRP, and Pepe (PEPE) caused $75 million in liquidations.<h2 id="header-0">More about the Liquidations</h2>Crypto exchange <a href="https://www.binance.com/en" rel="noopener noreferrer nofollow">Binance</a> recorded the highest liquidations among the exchanges, with $383.5 million in longs and $74.1 million in shorts. OKX and HTX came in second and third with $354.5 million and $156.3 million, respectively. More info about the liquidation on exchanges below:<ul><li>ByBit: $68.5 million in longs and $18.2 million in shorts</li><li>Bitmex: $32.1 million in longs and $4.1 million in shorts</li><li>CoinEx: $25.2 million in longs and $2.5 million in shorts</li><li>Bitfinex: $25.2 million in longs and $1.2 million in shorts</li></ul>Over 275,000 individual traders were liquidated, and the highest single liquidation order was placed on the cryptocurrency exchange Huobi. The order involved a trade between Bitcoin and US Dollars valued at $27 million. The statistics show that around 87% of all affected traders were long traders who bet on increasing prices.The liquidations occurred as Bitcoin declined more than 14.8% over 24 hours, while Ethereum experienced a decline of up to 25% before experiencing a modest recovery. Due to the dip, the crypto fear and greed indicator hit its lowest level since early July. It now shows extreme “fear” in the market.

Top Exchanges by Liquidations In the Last Week

Table of Contents

BlockchainReporter

Other articles published on Aug 5, 2024

Shytoshi Kusama’s Cryptic Message Ignites Shiba Inu Community

All Eyes on $NOTI as Wiener AI Presale Enters Final Days

Bitcoin ETF: Europe’s Capula Management Discloses $500 Mln Holding

Vitalik Buterin Sells 17.1 Billion Neiros, Causing Meme Coin Price to Plummet By 60%

Kamala Harris on Cryptos Engagement

Donald Trump Launches Bitcoin-Themed Sneakers, Quickly Sell Out

Join our free newsletter for daily crypto updates!