Market Downturn Causes Liquidations of Over 45,000 Traders
As a crypto enthusiast, you may have noticed a significant downturn in the market recently, resulting in the liquidation of over 45,000 traders in the past 24 hours. This sharp decline has impacted various cryptocurrencies, including meme coins like BONK, PEPE, and FLOKI.
Meme Coins Hit Hardest
- Popular meme coins such as BONK, PEPE, and FLOKI experienced substantial losses during this market downturn.
- BONK saw a nearly 10% drop in its value.
- PEPE’s value decreased by 8.5%
- FLOKI experienced a 7.5% decline.
BTC and Altcoins in the Red
- Bitcoin, after briefly surpassing $64,000, failed to maintain that level and dropped to a 10-day low.
- Altcoins like Solana and Ethereum also suffered losses, with Solana sliding by 5% and Ethereum retracing by 3.2%.
Liquidations and Market Value Loss
- Over 45,000 traders were liquidated in the past day alone due to the market downturn.
- The total value of wrecked positions amounts to over $100 million, with the largest individual liquidation worth nearly $3 million on OKX.
Positive Developments Amidst Bearish Sentiment
Despite the prevailing bearish sentiment in the market, there are still positive signs and developments in the bitcoin sector that could potentially reverse the recent downward trend.
Hot Take: Stay Informed to Navigate Market Volatility
As a committed crypto investor, it is crucial to stay informed and vigilant during market downturns to navigate the volatility effectively. Keep an eye on the latest developments and trends to make informed decisions and mitigate risks in the ever-changing crypto landscape.
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