Bitcoin, Solana and XRP in Spotlight as Crypto Liquidations Hit $1.14 Billion

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In the past 24 hours, the broader cryptocurrency industry has seen 241,696 traders suffer liquidations, with the dollar amount hitting $1.14 billion.

Bitcoin BTC $105 113 24h volatility: 2.4% Market cap: $2.09 T Vol. 24h: $52.95 B , Ethereum ETH $2 539 24h volatility: 8.3% Market cap: $305.77 B Vol. 24h: $42.38 B , Solana SOL $146.3 24h volatility: 8.4% Market cap: $77.18 B Vol. 24h: $6.93 B , and XRP XRP $2.14 24h volatility: 4.7% Market cap: $125.82 B Vol. 24h: $4.07 B were mainly affected by the turn of events, with long traders taking the bigger hit.

Bitcoin Leads Long Traders Crypto Liquidations

According to CoinGlass data, the largest single liquidation order occurred on Binance, involving the BTCUSDT pair and valued at $201.31 million.

Over the past 24 hours, Bitcoin liquidations totaled $444.41 million, with long traders who had bet on a price rise bearing the brunt of the losses.

This category of traders recorded about $415.73 million in liquidation, while their short bet counterparts managed $28.68 million. For Ethereum, the case was not so different.

Ethereum long traders suffered liquidation of $240.79 million, and short traders recorded $56.87 million. Altogether, the total Ethereum liquidation in 24 hours came in at $297.66 million.

Solana recorded up to $52.73 million in crypto liquidations, with long traders bearing the larger brunt.

XRP liquidations were capped at $22.77 million, and like the others, long traders’ $21.14 million were liquidated, and short traders lost only $1.63 million. Other digital currencies like DOGE DOGE $0.18 24h volatility: 7.1% Market cap: $26.29 B Vol. 24h: $1.97 B , WIF WIF $0.82 24h volatility: 13.8% Market cap: $816.85 M Vol. 24h: $608.91 M , and AAVE AAVE $283.8 24h volatility: 5.6% Market cap: $4.28 B Vol. 24h: $1.12 B also had traders liquidated.

The liquidation heatmap shows Bitcoin leading the crypto selloff, which makes sense as most digital assets move in line with Bitcoin’s price.

Recently, Bitcoin’s price dropped below $105,000, erasing nearly $170 billion from its market capitalization.

The flagship cryptocurrency has recovered slightly since this price dip. Bitcoin was trading at $105,291.77 at press time, however it is still 1.56% lower than 24 hours ago.

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