$ETH Liquidation Storm Sweeps Through the Market, $2.57 Billion Evaporates, Over 420,000 Traders Go Bankrupt

The cryptocurrency market just experienced a "bloody" day as a massive liquidation storm swept across the market, plunging hundreds of thousands of trading accounts into the red.

🔸 In the past 24 hours alone, 426,627 traders had their assets liquidated. The total loss from this "massive" liquidation reached a staggering $2.57 billion.

🔸 Most notably, a massive liquidation occurred on the DEX. An ETH-USD position worth $222.65 million was swallowed up by the market in an instant.

With such a huge amount of leverage wiped out, has the market found its bottom, or is this nightmare far from over?

News is for reference, not investment advice. Please read carefully before making a decision.