More than 103,000 traders have been liquidated for $364 million in the last 24 hours.
What happened: Data from CoinGlass shows that the majority of crypto long traders were liquidated on Tuesday.
Bitcoin BTC/USD saw the most liquidations, worth $124 million, followed by ether ETH/USDwhich saw $114 million worth of liquidations.
Ethereum classic ETC/USD also saw a substantial amount of liquidations worth $40 million.
Meme-based cryptocurrency Dogecoins DOGE/USD saw $3.07 million worth of liquidations, moving in similar territory to altcoins Solana SOL/USD and Cardano ADA/USDwhich experienced liquidations worth $3.5 million and $3.6 million, respectively.
See also: IS DOGECOIN A GOOD BUY?
Most liquidations have been recorded on cryptocurrency exchanges OKX, Binance and FTX.
Expert Take: Crypto market analyst Krisma noted that crypto exchanges expose ETH and ERC-20 deposits ahead of The Merge will make it harder for traders to add assets to their margin positions and avoid liquidations.
All exchanges are suspending ETH and ERC20 deposits – so no quick way to add assets to your margin positions this way
EVM using chains are affected: $AVAX $MATIC $OP $BNB and arbitrage
Solution:
TRON network with stablecoin depositsThanks for reading all this, stay healthy pic.twitter.com/n2EgHZQoqj
— Krisma (@KRMA_0) September 6, 2022
Price promotion: At the time of writing, ETH was trading at $1,511, down 7.76% in 24 hours, according to data from Gasoline Pro. BTC traded at $18,710, down 5.38% over the same period.
