{"id":542697,"date":"2023-07-14T14:00:44","date_gmt":"2023-07-14T14:00:44","guid":{"rendered":"https:\/\/shenyangcang.com\/?p=542697"},"modified":"2024-06-11T14:38:41","modified_gmt":"2024-06-11T14:38:41","slug":"crypto-liquidations-cross-300-million","status":"publish","type":"post","link":"https:\/\/shenyangcang.com\/news\/crypto-liquidations-cross-300-million\/","title":{"rendered":"Crypto Liquidations Cross $300 Million Amid Massive Market Recovery"},"content":{"rendered":"

The last 24 hours have been more than interesting for crypto investors across the globe. Thursday, July 13, saw one of the most important lawsuits in the history of the industry come to an end, and the ruling<\/a> in favor of Ripple triggered a massive rally. As digital assets across the space recorded double-digit gains, liquidation volumes climbed quickly, now clocking over $300 million.<\/p>\n

Crypto Short Traders Take Big Losses<\/h2>\n

The high volumes of crypto liquidations in the market so far have been a result of price recovery. As such, the vast majority of traders who have been losing money have been short traders, that is, traders who were betting on prices falling rather than recovering.<\/p>\n

Related Reading: Polygon Upgrade Proposal Pushes Price Over 5%, Is It Too Late To Buy?<\/a><\/div>\n

According to data from Coinglass<\/a>, out of the over $300 million in liquidations, short traders made up for a total of $219 million. On the flip side, the volume from long traders was much lower, coming in at only $82.74 million for the same 24-hour period. This means that short traders made up 70.33% of all liquidations during this time, as long traders made the most money.<\/p>\n

Furthermore, over 86,000 traders saw their positions liquidated on the last day, but the single largest liquidation happened on the Bitmex exchange. This position was worth $2.82 million at the time of liquidation, taking place across the XRPUSD pair on the exchange.<\/p>\n

\"Crypto<\/p>\n

Liquidations cross $300 million in 24 hours | Source: Coinglass<\/a><\/pre>\n
As expected, Bitcoin led the liquidation volumes during this time, but interestingly, Ethereum was not the second-highest volume as it usually is. That title was claimed by XRP traders this time around with a total of $62.17 million liquidated in 24 hours.<\/p>\n
Will The Liquidations Continue?<\/h2>\n
A major factor behind the liquidations was the wild price fluctuations that were triggered by the Ripple victory. Since the court declared that XRP was not a security, the price of the digital asset rallied over 60%, taking the rest of the crypto market with it.<\/p>\n
However, as the market has broken into a new trading day, prices are starting to stabilize and liquidations are beginning to settle out. If the market continues like this, then there would not be high liquidation volumes going forward. Unless something triggers a rally or a crash, which would lead to more liquidations.<\/p>\n
Related Reading: Litecoin Becomes 10th-Largest Cryptocurrency, But Is There Still Room To Run?<\/a><\/div>\n
For now, the prices of digital assets such as Bitcoin, Ethereum, and XRP are holding their gains from yesterday quite well. BTC\u2019s price is still above $31,000, ETH is trading slightly below $2,000, and XRP is still seeing 60% gains with its price sitting at $0.779 at the time of this writing.<\/p>\n
\"Crypto<\/p>\n
Total crypto market cap crosses $1.2 trillion | Source: Crypto Total Market Cap on Tradingview.com<\/a><\/pre>\n
Follow Best Owie on Twitter<\/a> for market insights, updates, and the occasional funny tweet\u2026 Featured image from iStock, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
The last 24 hours have been more than interesting for crypto investors across the globe. Thursday, July 13, saw one of the most important lawsuits in the history of the industry come to an end, and the ruling in favor of Ripple triggered a massive rally. As digital assets across the space recorded double-digit gains, liquidation volumes climbed quickly, now clocking over $300 million. Crypto Short Traders Take Big Losses The high volumes of crypto liquidations in the market so far have been a result of price recovery. As such, the vast majority of traders who have been losing money have been short traders, that is, traders who were betting on prices falling rather than recovering. Related Reading: Polygon Upgrade Proposal Pushes Price Over 5%, Is It Too Late To Buy? According to data from Coinglass, out of the over $300 million in liquidations, short traders made up for a total of $219 million. On the flip side, the volume from long traders was much lower, coming in at only $82.74 million for the same 24-hour period. This means that short traders made up 70.33% of all liquidations during this time, as long traders made the most money. Furthermore, over 86,000 traders saw their positions liquidated on the last day, but the single largest liquidation happened on the Bitmex exchange. This position was worth $2.82 million at the time of liquidation, taking place across the XRPUSD pair on the exchange. Liquidations cross $300 million in 24 hours | Source: Coinglass As expected, Bitcoin led the liquidation volumes during this time, but interestingly, Ethereum was not the second-highest volume as it usually is. That title was claimed by XRP traders this time around with a total of $62.17 million liquidated in 24 hours. Will The Liquidations Continue? A major factor behind the liquidations was the wild price fluctuations that were triggered by the Ripple victory. Since the court declared that XRP was not a security, the price of the digital asset rallied over 60%, taking the rest of the crypto market with it. However, as the market has broken into a new trading day, prices are starting to stabilize and liquidations are beginning to settle out. If the market continues like this, then there would not be high liquidation volumes going forward. Unless something triggers a rally or a crash, which would lead to more liquidations. Related Reading: Litecoin Becomes 10th-Largest Cryptocurrency, But Is There Still Room To Run? For now, the prices of digital assets such as Bitcoin, Ethereum, and XRP are holding their gains from yesterday quite well. BTC\u2019s price is still above $31,000, ETH is trading slightly below $2,000, and XRP is still seeing 60% gains with its price sitting at $0.779 at the time of this writing. Total crypto market cap crosses $1.2 trillion | Source: Crypto Total Market Cap on Tradingview.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet\u2026 Featured image from iStock, chart from TradingView.com<\/p>\n","protected":false},"author":541,"featured_media":542721,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83386,3],"tags":[6664,85578,10923,1557,85078,4531],"class_list":["post-542697","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","category-news","tag-crypto","tag-crypto-liquidations","tag-crypto-market","tag-cryptocurrencies","tag-liquidations","tag-xrp"],"acf":[],"yoast_head":"\nCrypto Liquidations Cross $300 Million Amid Massive Market Recovery<\/title>\n<meta name=\"description\" content=\"The last 24 hours have been more than interesting for crypto investors across the globe. 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This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/shenyangcang.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Crypto Liquidations Cross $300 Million Amid Massive Market Recovery","url":"http:\/\/shenyangcang.com\/news\/crypto-liquidations-cross-300-million\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/shenyangcang.com\/news\/crypto-liquidations-cross-300-million\/"},"thumbnailUrl":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2023\/07\/iStock-1314042576.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2023\/07\/iStock-1314042576.jpg?fit=1296%2C810"},"articleSection":"Crypto","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["crypto","crypto liquidations","crypto market","cryptocurrencies","liquidations","xrp"],"dateCreated":"2023-07-14T14:00:44Z","datePublished":"2023-07-14T14:00:44Z","dateModified":"2024-06-11T14:38:41Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Crypto Liquidations Cross $300 Million Amid Massive Market Recovery\",\"url\":\"http:\\\/\\\/shenyangcang.com\\\/news\\\/crypto-liquidations-cross-300-million\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/shenyangcang.com\\\/news\\\/crypto-liquidations-cross-300-million\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/shenyangcang.com\\\/wp-content\\\/uploads\\\/2023\\\/07\\\/iStock-1314042576.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/shenyangcang.com\\\/wp-content\\\/uploads\\\/2023\\\/07\\\/iStock-1314042576.jpg?fit=1296%2C810\"},\"articleSection\":\"Crypto\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/shenyangcang.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"crypto\",\"crypto liquidations\",\"crypto market\",\"cryptocurrencies\",\"liquidations\",\"xrp\"],\"dateCreated\":\"2023-07-14T14:00:44Z\",\"datePublished\":\"2023-07-14T14:00:44Z\",\"dateModified\":\"2024-06-11T14:38:41Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/shenyangcang.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2023\/07\/iStock-1314042576.jpg?fit=1296%2C810","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts\/542697"}],"collection":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/users\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/comments?post=542697"}],"version-history":[{"count":0,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts\/542697\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/media\/542721"}],"wp:attachment":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/media?parent=542697"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/categories?post=542697"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/tags?post=542697"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}