XRP, Dogecoin Dive 12% as Altcoin Carnage Leads to Highest Bullish Liquidation in Nearly 3 Years

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CoinDesk 1w ago

XRP, Dogecoin Dive 12% as Altcoin Carnage Leads to Highest Bullish Liquidation in Nearly 3 Years - CoinDesk

Quick Summary:

A liquidation occurs when an exchange forcefully closes a trader's leveraged position due to the trader's inability to meet the margin requirements.

Bitcoin dropped 3%, while ether (ETH) and Solana’s SOL fell 7%, as tron's TRX nearly reversed all of last week’s gains with a 17% haircut.

Major tokens and midcaps registered one of their worst days in recent months with a sharp drop during early Asian hours on Tuesday, even as bitcoin (BTC) was relatively little changed.