Crypto short sellers are drowning in a deluge of liquidations as Bitcoin (BTC), Ethereum (ETH) and other altcoins rally.
According to liquidation data from CoinGlass, the crypto markets have experienced more than $180 million in liquidations in the last 24 hours alone.
Since January 13th, short sellers have been hit with over $600 million in liquidations, according to the crypto data platform.
In the last 24 hours, Bitcoin liquidations have hit $34.71 million. The leading crypto by market cap is trading for $21,009 at time of writing, up 23% over the last seven days.
Over the same period, Ethereum liquidations have reached $47.59 million. The leading smart contract platform by market cap is trading for $1,553 at time of writing, up 21% in the last week.
Despite recent network struggles, ETH-competitor Solana (SOL) liquidations have reached $5.87 million over the last day. The 11th-largest crypto by market cap is trading for $23.10 at time of writing, up 61% over the last week.
Liquidations for the 40th-largest crypto by market cap, Aptos (APT), have also reached over $5 million over the last 24 hours, hitting $5.36 million at time of writing. Currently, APT is trading for $8.14, up 112% over the last seven days.
Finally, meme token Dogecoin (DOG) liquidations have reached $3.29 million over the last day, according to CoinGlass. DOGE is trading for $0.0836 at time of writing, up 14% over the last week.
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Source: https://dailyhodl.com/2023/01/16/short-sellers-get-hit-with-over-600000000-in-liquidations-as-bitcoin-btc-ethereum-eth-and-altcoins-pop/