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700 million worth of cryptocurrencies were liquidated

Panic alert in the world of cryptocurrencies! Hundreds of millions of dollars in Bitcoin (BTC), Ethereum (ETH) and other crypto assets have been liquidated in the last 24 hours. This is because BTC dips back below its previous all-time high.

New data from the market intelligence platform Coinglass reveal that, during the last day, US$260 million worth of Bitcoin underwent liquidation. In fact, the vast majority of them being long positions.

Coinglass also finds that $122 million from the leading smart contract platform has disappeared from wallets during the same time period. As a result it brought the total amount of digital assets that also underwent liquidation to a staggering $727 million during the last day.

Other prominent digital assets that have seen at least $10 million in liquidations include ETH competitor, Solana (SUN)the popular meme assets Dogecoin (DOGE) It is Pepe (PEPE), Binance Coin (BNB)the native asset of the world’s largest cryptocurrency exchange platform, and Worldcoin (WLD)a project focused on privacy with eye scanning, founded by the CEO of OpenAISam Altman.

Panic alert at major cryptocurrency brokers

Coinglass data also reveals that the majority of liquidations came from four prominent cryptocurrency exchange platforms – Binance, OKX, Bybit It is Huobi. Both Binance and OKX saw over $260 million in options contracts wiped out, while Bybit and Huobi saw $84 million and $56 million each, respectively.

Bitcoin is trading at $68,407 at the time of writing, down 5% over the past day and down 7% from its new all-time high of $73,580 set earlier this week.

The main digital asset’s previous all-time high was in November 2021, when it reached US$69,000.

Source: Atrevida

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