The digital assets market dropped by another 3% over the last day as a broad industry sell off continues. The cumulative crypto market cap stood at $2.33 trillion as Bitcoin (BTC) price declined below the $65,000 mark. Other major altcoins like Ethereum (ETH) and Solana (SOL) slumped by more than 3% and 6%, respectively.
Huge crypto liquidation recorded
As per the data provided by Coinglass, the total liquidation breached the $446 million mark in the last 24 hours. Over 161k traders were liquidated. However, the single largest liquidation of ETH/USDC valued at $6.44 million order happened on the crypto exchange Binance.
The data showed that around $384 million of future positions liquidated turned out to be long positions. This suggests that investors were hoping for a market reversal from the recent dump. However, the crypto market slumped to print red indexes all over around.
Bitcoin price is down by over 3% in the last 7 days. BTC is trading at an average price of $64,828, at the press time. It has dragged by 12% from its all time high of over $73,500. Bitcoin 24 hour trading volume is up by 78% $38.5 billion.
Altcoins tumble
Ethereum price slumped by around 4% in the last 24 hours, while, it is still up by 50% on the year to date (YTD) period. ETH is trading at an average price of $3,406, at the press time. Its 24 hour trading volume is up by 38% to stand at $20.6 billion.
CORE token turned out to be the biggest loser of the day. CORE price is down by 20% in the last 24 hours. However, Fantom (FTM) price aslo declined by 19% in the same session.
The meme crypto sector recorded a massive slump. The cumulative market cap is down by almost 10% over the last day. Dogecoin (DOGE) and Shiba Inu (SHIB), both, are down by more than 11%.
Dogwifhat (WIF) saw a drag down by 15% in the last 24 hours. WIF is trading at an average price of $1.99, just short of the $2 level. Its 24 hour trading volume is up by 58% to stand at $530 million.
