Top cryptocurrency exchanges’ data shows that the global crypto market valuation dropped by roughly 3.3% in the last day to settle at $2.4 trillion.
The decline in the price of Bitcoin drove the total decline in the market capitalization of all cryptocurrencies, while Ethereum, the second-largest, also saw negative price movement. Retail investors are currently benefiting from the recent significant rebound in the cryptocurrency market.
The total amount of cryptocurrency traded at the time of publication, according to data from Coinmarketcap.com, had climbed by 37.7% to $78.27 billion. Furthermore, the current 24-hour volume in DeFi is $4.07 billion, or 5.21% of the entire volume in the cryptocurrency market.
According to market data, the total value of stable coins is currently $71.26 billion, or 91.05% of the total crypto market 24-hour volume. The bitcoin price slides below $67,000, triggering a spike in long liquidations. Bitcoin long liquidations have surged over the past 24 hours as the price of the largest cryptocurrency by market capitalization dropped below the $67,000 mark.
There were a total of $68 million in bitcoin-long liquidations across centralized exchanges in the past 24 hours, out of a total of $75 million in liquidated BTC positions, according to data from Coinglass.
The broader cryptocurrency market saw over $167 million in total liquidations in the same period, with around $143 million in long positions.
Traders of ETH, the second-largest cryptocurrency by market capitalization, also faced substantial liquidations on leveraged positions across exchanges, with over $40 million liquidated, of which over $33 million were long positions. Bitcoin is currently trading at $66,603, down by 4.26% in the past 24 hours.
