OKX And Binance Lead $137M Crypto Sell-Off

Key Points:

• $137M worth of crypto liquidated in 24hrs as market falls.
• Bitcoin fell by 2.49% in 24hrs, most altcoins followed.
• OKX and Binance led in most liquidations.

According to Coinglass, the crypto market started to fall and as a result over $137M worth of crypto were liquidated in the last 24 hours.

Bitcoin (BTC) suffered a loss of -2.49% in the last 24 hours, which had a domino effect on most altcoins.

The total amount of liquidation in a day was $137.22 million, out of which BTC contributed $62.9 million or over 45%. Ethereum (ETH) was the second-highest contributor to liquidation with $31.53 million. The remaining altcoins recorded nearly $2 million in liquidations each.

Liquidations based on exchanges revealed that most liquidations were from long positions. OKX was the exchange that facilitated the most significant amount of liquidations with $47.63 million, which accounted for 34.71% of the total amount liquidated in the last 24 hours. Binance followed OKX as a close second with $45.39 million of liquidations.

Coincu data revealed that 91 coins recorded a price fall in the last 24 hours. The largest decreases were recorded by XinFin (XDC), SingularityNET (AGIX), and Stacks (STX) with -6.68%, -6.37%, and -5.71%, respectively. In addition to BTC, which lost -2.49% of its value, ETH, XRP, Cardano, and Solana lost -3.05%, -2.83%, and -5.4%, respectively.

Despite the overall market drop, media sector recorded a 16.77% growth in the last 24 hours, according to Coincu data. This could potentially be attributed to an increased interest in cryptocurrencies in the media sector, and may indicate potential opportunities for growth in the future.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Annie

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