Eco
Global cryptocurrency markets witnessed an intense liquidation of trading positions affecting approximately 99,000 traders over the past 24 hours, with a total value exceeding $678.24 million, according to market analysis platform data. This extensive liquidation reflects the sharp fluctuations to which the digital sector is exposed, where open leveraged positions are forcibly closed when the margin is insufficient to cover losses or maintain the trade. Ethereum (ETH) bore the largest share of this liquidation, recording losses estimated at around $259.76 million, highlighting its significant impact on these volatilities. The liquidations included short positions worth $421 million, compared to $256.86 million in long positions. The largest single liquidation during the period was recorded on one of the trading platforms, in an "ETH-USD" trade, valued at $20.28 million. In contrast, and in an indicator of market complexity, statistics from major trading platforms revealed a rise in the prices of the most prominent cryptocurrencies by market capitalization. Bitcoin's price reached approximately $78.76 thousand at 17:40 Moscow time, rising by 1.95%, while Ethereum's price climbed by 6.99% to about $2611.2. Furthermore, digital currency market analyses indicated that the total market capitalization of the sector reached approximately $2.69 trillion. Bitcoin accounted for about $1.57 trillion of this, while Ethereum's market value stood at $318.24 billion, underscoring the dominance of these two currencies in the digital landscape.
