The global crypto market recorded fresh recovery gains on Monday as the biggest cryptos like Bitcoin (BTC) and Ethereum (ETH) began to retrace their positions. The cumulative digital assets market cap jumped by 4.5% over the last day. However, top cryptos like Avalanche (AVAX) and Shiba Inu (SHIB) took the front row in registering gains.
$220 million of short and long bets liquidated
Bitcoin moved ahead to regain the $68,000 price level after dipping to the $65,000 mark. BTC’s positive price movement brought in confidence among investors’ sentiment depicting that the bull rally isn’t going to stop there. The Fear and Greed index is still displaying “Extreme Greed” in the market with 85 points.
Data provided by Coinglass shows that more than 73K traders were liquidated in the last 24 hours. The total liquidations recorded by the tracker stood at $220 million. This includes both long and short bets. However, the biggest liquidation order happened at the crypto exchange OKX of ETH-USDT-SWAP valued at $7.11 million.
Shiba Inu leading the way
Avalanche turned out to be one of the biggest gainers of the morning trade as its price jumped by almost 20% in the last 24 hours. AVAX is trading at an average price of $61.27, at the press time. Meanwhile, it is still down by 58% from its ATH of $146.22 recorded on November 21, 2021. Its 24 hour trading volume is up by 4% to stand at $1.99 billion.
The second biggest meme coin, Shiba Inu (SHIB) seems to be getting back on an upward track. SHIB price jumped more than 10% over the last day. It is important to note that this surge came in when Shiba Inu’s price had dropped by 19% in the last 7 days.
SHIB is trading at an average price of $0.000028, at the press time. Its 24 hour trading volume is up by 6% to stand at $2.4 billion.
The new sensation in the meme coin category, dogwifhat (WIF) stood tall as the largest gainer. WIF price saw a surge of over 24% in the last 24 hours. The crypto has now gained around 590% in the last 30 days. WIF is trading at an average price of $2.81, at the press time. It recently went on to hit it ATH of $3.53. Since then WIF saw major correction but it seems like many whales booked the profit and chose to pull out.
