Dogecoin

Major

Cardano

Bitcoin

<p>The <strong>crypto market</strong> kicked off the week with significant losses, as <strong>Bitcoin</strong> briefly touched the $100,000 mark before retreating. Major altcoins like XRP, Dogecoin (DOGE), and Cardano (ADA) saw double-digit losses, contributing to a staggering $1.76 billion in liquidations over the past 24 hours. Ethereum led the long position losses, surpassing Bitcoin in this metric.</p>
<div class="wp-block-image">
 <figure class="aligncenter">
  <a href="https://www.qubetics.com/?utm_source=TNYR&amp;utm_medium=postBANNER" target="_blank" rel="noopener noreferrer nofollow"><img loading="lazy" width="728" height="90" src="https://www.turkishnyradio.com/wp-content/uploads/2024/11/Qubetics-is-728x90-1-3.jpg" alt="Qubetics is 728x90 1 3" title="Crypto Market Crash Wipes Out $1.76 Billion in Liquidations 36"></a>
 </figure>
</div>
<h2 class="wp-block-heading" id="altcoins-lead-the-market-into-the-red">Altcoins Lead the Market into the Red</h2>
<p>Yesterday’s trading session marked one of the toughest starts to the week for the <strong>crypto market</strong>, with several tokens suffering steep declines. XRP, which had recently dominated the market, fell by 12%, landing at $2.07 and leading the sell-off in the <strong>altcoin market</strong>.</p>
<p>Other major losers included Dogecoin and Cardano, which dropped by 10.6% and 13.4%, respectively.</p>
<div class="wp-block-image">
 <figure class="aligncenter size-full">
  <img loading="lazy" width="1644" height="1200" src="https://www.turkishnyradio.com/wp-content/uploads/2024/12/chart-15.jpeg" alt="chart 15" title="Crypto Market Crash Wipes Out $1.76 Billion in Liquidations 37">
 </figure>
</div>
<h2 class="wp-block-heading" id="bitcoin-declines-alongside-altcoins">Bitcoin Declines Alongside Altcoins</h2>
<p>Bitcoin, the market’s leading cryptocurrency by market cap, briefly hit the $100,000 milestone on Monday before closing the day with a modest 2.6% drop. Despite this, the overall crypto market is experiencing its worst performance in four months, shedding nearly $1 trillion in value.</p>
<p>Data from CoinGlass reveals that $1.76 billion worth of cryptocurrency positions were liquidated in the past 24 hours, with $1.58 billion coming from long positions.</p>
<p>Nearly 600,000 trades were liquidated during this period, with Binance leading the liquidation volume at $756.26 million. The largest individual loss occurred in an ETH/USDT trade on Binance, totaling $19.69 million.</p>
<div class="wp-block-image">
 <figure class="aligncenter size-full">
  <img loading="lazy" width="1315" height="743" src="https://www.turkishnyradio.com/wp-content/uploads/2024/12/kripto-genel-grafik.jpg" alt="kripto genel grafik" title="Crypto Market Crash Wipes Out $1.76 Billion in Liquidations 38">
 </figure>
</div>
<h2 class="wp-block-heading" id="ethereum-tops-liquidation-charts">Ethereum Tops Liquidation Charts</h2>
<p>Ethereum emerged as the leader in long position liquidations, accounting for $223 million over the past 24 hours, compared to Bitcoin’s $148 million. Altcoins like Solana, Dogecoin, and XRP also posted high liquidation volumes, reflecting their recent popularity as speculative assets.</p>
<p>Santiment, a prominent crypto analytics firm, commented on the situation, stating:</p>
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 <p>“If retail investors continue to panic-sell their holdings, rapid recoveries may occur for tokens like TRX, AVAX, DOT, ICP, POL, FIL, and TIA.”</p>
</blockquote>
<h2 class="wp-block-heading" id="conclusion">Conclusion</h2>
<p>The recent crash underscores the volatile nature of the crypto market. While many investors face losses, others see an opportunity for a potential rebound. As always, caution and thorough research are essential during such turbulent times.</p>
<p>Stay updated with more insights on the crypto market at <strong><a href="https://www.turkishnyradio.com/" target="_blank" rel="noopener noreferrer nofollow">Turkish NY Radio</a></strong>.</p>

Crypto Market Crash Wipes Out $1.76 Billion in Liquidations

Table of Contents

TNYR

Other articles published on Dec 10, 2024

Join our free newsletter for daily crypto updates!