The cryptocurrency market continues declining following the crash that happened late last week. The total capitalization was pushed below $2.6 trillion on the back of significant losses by Bitcoin an most of the altcoins.
Bitcoin’s Price Plummets Toward $67K
At the time of this writing, BTC is trading at around $67,500, having plunged all the way down to around $67,200 on Binance. The move paints a 2.7% decline in the past 24 hours.
Data from the popular analytics resource Coinglass shows that the total liquidations for the past 24 hours stand at around $170 million. Most of them, expectedly, are long positions. In fact, over 92% of all positions across the leading derivatives platforms are longs. Leading is Binance with around $65 million of total liquidations, followed by OKX and Huobi.
Some Altcoins Have It Worse
A lot of the large-cap altcoins are painting steeper declines compared to Bitcoin. As seen in the chart below, SOL is down 3.6%, SHIB is down 3.6%, ETH – 3.7%, PEPE – 3.8%, TON – 3%, BNB – 5%, and so forth.
As CryptoPotato reported earlier, meme coins are going through a bloodbath as well. Coins like PEOPLE, PONKE, BRETT, DOGE, FLOKI, SHIB, and others – are all trading well in the red.
Did you like this market update? This is all you need not to miss any price action in the raging crypto markets. Start receiving this recap, for free, every day:
It’s interesting to see if this is a short-term correction or if the decline will continue throughout the rest of the summer months.
Meanwhile, today’s best performer is Injective (INJ), which increased by 10%. This follows an announcement of improved tokenomics that took place a few days ago.
The popular TON-based meme coin Notcoin (NOT) is the one that plunged the most out of the top 100. NOT is down 14.7% in the past 24 hours. Wormhole and BRETT follow suite with 11.6% and 9.4% declines, respectively.
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).
LIMITED OFFER 2024 at BYDFi Exchange: Up to $2,888 welcome reward, use this link to register and open a 100 USDT-M position for free!
Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.
Cryptocurrency charts by TradingView.