Crypto traders suffered more than $100 million in losses due to position liquidations during Monday's market plunge as digital asset prices collapsed as military conflict in the Middle East escalated.
- CoinGlass data shows about $105 million of long positions were wiped out by late afternoon in the US, the largest volume of liquidations since 9/11.
- The liquidations occurred against the backdrop of a fall in cryptocurrencies due to clashes between Israel and Hamas, which affected market assets. Bitcoin [BTC] lost more than 2% of its value before rising to $27,600. Ether [ETH] fell almost 5%, and major cryptocurrencies Solana [SOL], Polygon [MATIC] and Polkadot [DOT] lost between 6% and 7% % of cost. Later they recovered a little.
- ETH derivatives traders took major losses as falling prices led to the liquidation of long positions worth $32.78 million over the past 24 hours, according to CoinGlass data. The largest liquidation order was $4.5 million for the ETH-BUSD position on the Binance crypto exchange.
- BTC long positions liquidated totaled $18.25 million, followed by Bitcoin Cash [BCH] and Bancor Token [BNT] with over $3 million liquidated positions for both cryptocurrencies.
- CoinGlass data shows about $105 million of long positions were wiped out by late afternoon in the US, the largest volume of liquidations since 9/11.
- The liquidations occurred against the backdrop of a fall in cryptocurrencies due to clashes between Israel and Hamas, which affected market assets. Bitcoin [BTC] lost more than 2% of its value before rising to $27,600. Ether [ETH] fell almost 5%, and major cryptocurrencies Solana [SOL], Polygon [MATIC] and Polkadot [DOT] lost between 6% and 7% % of cost. Later they recovered a little.
- ETH derivatives traders took major losses as falling prices led to the liquidation of long positions worth $32.78 million over the past 24 hours, according to CoinGlass data. The largest liquidation order was $4.5 million for the ETH-BUSD position on the Binance crypto exchange.
- BTC long positions liquidated totaled $18.25 million, followed by Bitcoin Cash [BCH] and Bancor Token [BNT] with over $3 million liquidated positions for both cryptocurrencies.