The global digital asset market printed red indexes all over as the majority of the cryptos including Bitcoin (BTC) and Ethereum (ETH) declined marginally. However, top meme tokens turned out to be the biggest losers over the past 24 hours. The biggest meme crypto Dogecoin (DOGE) price witnessed a decline of more than 5% after a good run.
Liquidations hit $100 million
According to the data, the cumulative crypto market cap dropped by almost 1% in the last 24 hours leaving red indexes all around. It now stands at $1.41 trillion with a 24 hour trading volume of $52.7 billion.
Coinglass reported that more than 50k traders’ long and short bets got liquidated over the past 24 hours. The total liquidations recorded by the tracker stand at $110.65 million. The largest single liquidation order was recorded on the crypto exchange OKX of BTC-USDT-SWAP, valued at $2.14 million.
Data depicts that $75 million of long positions (67% of the total liquidation) got liquidated over the past day. However, the crypto market declined in this period of time. This indicates that the sentiments regarding the market were bullish among the traders.
Ai tokens gain
On the other side, Wall Street’s major indices closed higher on Monday. The lead was extended by the Nasdaq’s 1% rally. This comes in as Microsoft Corp (NASDAQ: MSFT) reached a record high after hiring notable AI executives.
It is important to note that, the Nasdaq achieved its highest closing level since July 31, while S&P 500 marked its highest close since August 1. As per the data, the S&P 500’s tech sub-index rose by 1.5%. Extending its upward run, Microsoft shares touched a record high, ending up 2%
However. Microsoft CEO, Satya Nadella announced the hiring of Sam Altman and Greg Brockman, former OpenAI leaders. They will join a new advanced AI research team.
Coinmarketcap shows that the top AI and big data tokens market capitalization registered a surge of almost 10% in the last 24 hours. It now stands at around $9.5 billion.