$XRP
Crypto Market in Turmoil: $1.2 Billion Liquidation - XRP, DOGE, and ADA 🚨💔
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The cryptocurrency landscape is currently facing a significant upheaval, with over $1.2 billion in liquidations occurring within just 24 hours. This staggering figure highlights the volatility and risks associated with trading in the crypto market. 📉💸
1️⃣ The Liquidation Breakdown
According to data from CoinGlass, the majority of the liquidations—approximately $1.07 billion—stemmed from long positions. This indicates that many traders were caught off guard by the sudden market downturn. The largest single liquidation order was recorded on Binance, where one unfortunate trader lost nearly $16 million. 😱
2️⃣ Binance Takes the Lead
Binance, one of the largest cryptocurrency exchanges, reported the highest total amount of liquidated crypto, totaling around $546 million. This significant figure underscores the exchange's central role in the current market dynamics. 🔍
3️⃣ Bitcoin's Plunge
Earlier today, Bitcoin experienced a sharp decline, hitting an intraday low of $96,682, according to CoinGecko data. This represents a nearly 7% drop in just 24 hours, contributing to the overall bearish sentiment in the market. 📊
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