Crypto liquidations reach $470M as Bitcoin (BTC) retraces, altcoins surge
Dogecoin, XRP, Stellar, and Sandbox had a higher liquidation share than usual, as several popular altcoins from the 2020-21 cycle skyrocketed up to 50%.
Bitcoin fell after failing to surpass the $100,000 mark on November 24, resulting in one of the largest weekend crypto liquidations in more than a year.
Over the previous 24 hours, more than $470 million in cryptocurrency positions have been liquidated. According to CoinGlass data, long and short liquidations amounted to $352.6 million and $119.9 million, respectively, with altcoins accounting for the great bulk of wiped positions.
Bitcoin BTC $98,144 and Ether ETH $3,382.19 accounted for a combined $108.9 million worth of liquidations, while Dogecoin DOGE $0.426 , XRP XRP $1.46 and Stellar XLM $0.5204 rounded out the top five with $33.1 million, $27.6 million and $21.6 million liquidated.
Solana SOL $252.65 , The Sandbox SAND $0.7733 , Polkadot DOT $9.21 and Cardano ADA $1.03 saw the next largest liquidations.
It came as many of these altcoins from the 2020-2021 cycle unexpectedly outperformed across Nov. 23-24, increasing as much as 50% in XLM’s case.
The price rally also pushed DOGE to its highest point since May 2021 — the same month the memecoin skyrocketed to its all-time high, CoinGecko data shows.
Bitcoin BTC $98,144 and Ether ETH $3,382.19 were liquidated for a total of $108.9 million, respectively. Dogecoin DOGE $0.426, XRP XRP $1.46, and Stellar XLM $0.5204 were liquidated for $33.1 million, $27.6 million, and $21.6 million.
Solana SOL ($252.65), The Sandbox SAND ($0.7733), Polkadot DOT ($9.21), and Cardano ADA ($1.03) had the following greatest liquidations.
Many of these altcoins from the 2020-2021 cycle unexpectedly outperformed on November 23-24, with XLM increasing by up to 50%. According to CoinGecko data, the price gain pushed DOGE to its highest point since May 2021, when memecoin hit an all-time high.
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