The cryptocurrency exchange market saw severe turmoil over the past 24 hours, with nearly 99,000 traders facing forced liquidation of their financial positions, reflecting the intensity of the volatility currently dominating digital trading platforms.
Available data showed that Ethereum was the most affected coin, accounting for the largest share of liquidations totaling more than $259 million. Losses were split between short positions, which reached $421 million, and long positions, which registered about $256 million.
Reports showed that the largest individual liquidation took place via the Hyber Liquid platform in a trade on the Ethereum versus the U.S. dollar pair, where the value of a single deal exceeded $20 million in a key moment for the market.
Price movements and market value
Binance platform indicators revealed a bullish trend for Bitcoin and Ethereum, with the price of Bitcoin reaching about $78.76k, representing an increase of 1.95%, while Ethereum’s price jumped by nearly 7% to reach levels of $2,611.
