Crypto Market Hit Hard as $566 Million Liquidated After $1.4B Bybit Hack
2 min read
At the cryptom market, a sharp downturn of 566 million US dollars was wiped out within 24 hours. Large old coins such as XRP, Solana (Sol), Dogecoin (Doge) and Shiba Inu (Shib) fell into the red, while the global crypto market capitalization fell by 2% to 3.17 trillion dollars. This sudden crash follows the shocking 1.4 billion dollar -Bit -hack that rattled and sold panic.
Bybit Hack Sparks mass fluids
The consequences of the Bitbit security injury led to a large market sale, which led to widespread liquidations. Coinglass data shows that 151,222 dealers were affected, with long positions suffering the most losses.
- Long positions had 321 million US dollars of liquidations
- Short positions made 234 million US dollars of losses
- The largest single liquidation occurred in Binance with a BTC/USDT trade worth 12.14 million US dollars
Bitcoin (BTC) also scored a goal and fell 2% to 96,170 US dollars. At the same time, BTC's market dominance rose by 0.47% to 61.09%. In total, the BTC liquidations reached $ 133 million and showed the extent of the sale.
Altcoins suffer larger losses
Altcoins even recorded steeper declines than the sale increased:
- XRP sank 3%
- Solana (Sol) fell by 3.5%
- Dogecoin (Doge) decreased by 4%
- Cardano (ADA) scored the biggest goal and lost 5%
- Shiba inu (Shib) cut 2% into slices
With the market capitalization of now at 3.17 trillion US dollars, retailers are nervous and fear further losses.
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- Ethereum could reverse the 1.4 billion USD -bybit -hack -but here is the risk
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Top Crypto Gainer
Despite the overall market desolation, some tokens managed to stay in the green:
Bitget token (BGB):- is the top profit with an increase of 4.7% by 5 US dollars.
Manufacturer (MKR):- recorded a profit of 4% with a trade of around $ 1513.
Ethena (ENA):- is even traded in green with an increase of 3.41%.
Top crypto loser
Some tokens have installed severe losses as market pressure:
Jito (JTO):- Most of the losers for the day with a loss of 16.5%.
Berachaain (Bera):- Another token, which was at most 2nd place with 13.6%.
Stroy (IP):- recorded a decrease of 12% and acted by USD 4.40.
With the volatility with high and safety concerns, retailers remain careful. Whether the market is stabilizing or more losses depends on how quickly trust returns.
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Faqs
Why did the crypto market fall after the Bitbit hack?
The bybit hack of 1.4 billion US dollars sparked panic, which led to a liquidation of $ 566 million, hurried into the exit positions as a dealer, which led to a decline in market capitalization of 2%.
How much Bitcoin was liquidated at the latest market crash?
Bitcoin recorded liquidations of $ 133 million, lost 2% of its value and fell to around 96,170 US dollars.
What was the biggest liquidation order with this crypto crash?
The largest liquidation occurred in Binance, in which a BTC/USDT trade worth 12.14 million US dollars was involved.
