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Mar 28, 2022
by Jafrin Ahmed
$142M in Bitcoin Shorts Liquidated in the Past 24 Hours
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According to data from crypto analytics platform CoinGlass, over $142 million in Bitcoin shorts has been liquidated over the past 24 hours. Ethereum’s bullish price performance has also led to a similar wave of liquidated shorts, resulting in over $103 million liquidations during the same period.
Bitcoin (BTC) and Ethereum (ETH) are both up roughly 6% over the past 24 hours with BTC currently trading over $47,000, while ETH is trading at $3,343.
Analysts argue that Bitcoin’s recent price rally to $47,000 was a response to short liquidations in massive quantities over the weekend as the transaction volume of the flagship cryptocurrency recently exceeded $100 billion.
Crypto Trading Volume Exceeds $100B in 24 Hours
Chinese crypto journalist, Colin Wu, reported a spike in the total transaction volume of cryptocurrencies, exceeding $100 billion over the past 24 hours, and observed a 63.07% increase in crypto transaction volume compared to March 26, 2022, citing data from CoinMarketCap.
The total market capitalization of all cryptocurrencies has now soared past $2.1 trillion.
Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.