According to BlockBeats, the cryptocurrency market experienced a significant liquidation event on July 3rd. As per the data from Coinglass, within the span of just one hour, liquidations across the network amounted to $38.92 million. The majority of these liquidations were long positions, accounting for $38.34 million of the total.
This sudden surge in liquidations indicates a volatile market condition. The data does not specify which cryptocurrencies were most affected by this event. However, it is clear that a substantial amount of value was lost within a very short period.
The cryptocurrency market is known for its volatility, and such liquidation events are not uncommon. Traders and investors are advised to exercise caution and conduct thorough research before entering into any transactions. This incident serves as a reminder of the risks associated with trading in the cryptocurrency market.