Bitcoin Plunge Costs Traders $300 Million
Date: 2023-11-15 Author: Dima Zakharov Categories: CRYPTO PAYMENTS, IN WORLD
The Costly Fall of BTC and ETH
The abrupt drop in Bitcoin's price to $35,000 resulted in traders losing nearly $114 million. Ethereum (ETH) enthusiasts who took long positions also suffered substantial losses, with the currency falling below $2,000, costing them $60.5 million.
Solana Takes a Hit
Among the alternative cryptocurrencies, the native token of the Solana blockchain, SOL, led in liquidations, leaving traders $12.1 million poorer.
Dominance of OKX, Bybit, and Binance
More than 90% of the liquidations were concentrated on OKX, Bybit, and Binance. The most significant order was executed by OKX, closing a BTCUSDT long position amounting to $9.45 million.
