The volatile crypto market is certainly inviting restlessness from investors, especially amateurs.
But what doesn’t please market watchers is when over $ 1 billion of crypto assets are liquidated in a 24 -hour period.
For the record, most cryptocurrencies are experiencing a price collapse of almost 50% at the time this article is written, meaning new crypto investors venturing into this space are facing huge losses.
Based on records, nearly 300,000 investors liquidated $ 1.11 billion (RM4.9 billion) worth of crypto assets as the Fear & Greed Index showed ‘extreme fear’ sentiment.
As the price of Bitcoin (BTC) plunged below $ 30,000, touching the July 2021 record; these assets saw the highest liquidity with a value of $ 362.07 million, followed by Ethereum (ETH) which recorded a value of $ 326.50 million.
Investors making long -term investments are seen to have diluted their holdings by a cumulative amount, $ 71.36 million, compared to slightly lower short positions with a record $ 63.37 million to date.
Cryptocurrency platform Binance topped the charts with a record 197.96 million assets liquidated in 24 hours.
No wonder why Binance decided to block the issuance of some crypto assets starting this afternoon.
