The digital currency ecosystem is undergoing one of its regular price volatilities, a trend that has pushed the total liquidation to $142.72 million over the past 24 hours. According to data from crypto analytics service provider CoinGlass, the liquidations are being led by Bitcoin (BTC), which has recorded a total of 1.91K BTC worth a total of $50.26 million.
Top three liquidated tokens
The liquidation of Bitcoin was well showcased considering the premier digital currency dropped by more than 4% over the past 24 hours to $26,316.69. Besides Bitcoin, Ethereum also recorded a massive price slump as a total of approximately 17,000 ETH was liquidated with a worth of $29.93 million.
There was a significant addition to the list of the top tokens that were liquidated, and PEPE, the cartoonish meme coin ranked as the third most liquidated digital currency. PEPE saw a massive climb to new heights this month, marking a total lifespan that is less than a month.
The meme coin has seen more than 5.6 trillion PEPE tokens liquidated, worth $7.20 million in the past 24 hours. Unlike other tokens that have been launched in the past year, PEPE has created more milestones and millionaires than any other in a short time frame.
More liquidation insight
Liquidated data from CoinGlass showed that other mainstream tokens like Arbitrum (ARB), Litecoin (LTC) and Dogecoin (DOGE) also recorded significant liquidations within the time frame under review.
With the crypto market remaining ever dynamic in relation to its volatility and economy, investors are often caught unawares in terms of shifting prices that ultimately impact their portfolio. Per the liquidation from CoinGlass, the exchange that recorded the highest liquidation is OKX, followed by Binance and Bybit completing the top three list.
Alex Dovbnya
Denys Serhiichuk
Tomiwabold Olajide