Main navigation

Almost $10 Billion Worth of Crypto Liquidated as Bitcoin Collapses to $51K

News
Sun, 04/18/2021 - 04:50
article image
Alex Dovbnya
$3.7 billion worth of longs has been liquidated in one hour
Almost $10 Billion Worth of Crypto Liquidated as Bitcoin Collapses to $51K
Cover image via stock.adobe.com
Read U.TODAY on
Google News

According to Bybt data, an eye-popping $9.6 billion worth of crypto has been liquidated over the past 24 hours, up 274 percent from the previous day. 

Bitcoin, the flagship cryptocurrency, collapsed to an intra-day low of $51,541 03:36 a.m. UTC on the Bitstamp exchange, trimming over $10,000 within 24 hours.

In spite of the coin's swift recovery to the $56,000 level, long positions account for 89.5 percent ($3.7 billion) of all liquidations within the last hour. 

Liquidated crypto
Image by bybt.com

Binance, the largest exchange by daily trading volume, is responsible for 49 percent of the wipe-out, with $4.7 billion worth of liquidations.   

Other cryptocurrencies are getting clobbered harder than Bitcoin, with XRP and Litecoin collapsing almost 20 percent.   

article image
About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.