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November 9, 2023

Cryptocurrency Market Sees Surge in Prices, Resulting in Millions of Dollars Worth of Short Liquidations

Ethan Lim
Written byEthan LimWriter
Researched byNikos PapadopoulosResearcher

During the past 24 hours, the cryptocurrency market has experienced a surge in prices, resulting in the liquidation of hundreds of millions of dollars worth of Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) shorts. According to data from blockchain tracking platform Coinglass, the top crypto asset by market cap, Bitcoin, has seen over $131 million worth of short contracts liquidated. Ethereum and Solana have also witnessed significant liquidations, with $48 million and $9.56 million worth of short contracts liquidated, respectively.

Cryptocurrency Market Sees Surge in Prices, Resulting in Millions of Dollars Worth of Short Liquidations

Bitcoin

Bitcoin is currently trading at $36,460, representing a 2.9% gain in the last 24 hours. However, it has dropped by 3.5% from its seven-day high of $37,935. The total liquidation amount for Bitcoin in the past day is $170.5 million.

Ethereum

Ethereum is trading at $2,028, showing a 7.4% rise in the last 24 hours. The liquidation amount for Ethereum during this period is $66.5 million.

Solana

Solana is currently moving at $46.27, indicating an 8.4% rise in the last 24 hours. The total liquidation amount for Solana is $17.7 million.

Apart from Bitcoin, Ethereum, and Solana, other cryptocurrencies have also experienced significant liquidations. Chainlink (LINK) saw $6.25 million in short liquidations and $9.9 million overall, while Dogecoin (DOGE) witnessed $1.8 million in short contracts wiped away and $7.95 million in overall liquidations.

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About the author
Ethan Lim
Ethan Lim
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Ethan Lim, a native of the Lion City, is Singapore’s rising star in the domain of online casino guide localization. He masterfully blends his intimate knowledge of local culture with international gaming standards to produce content that resonates deeply with Singaporeans.

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