Crypto market rebound liquidates over $200M Crypto market rebound liquidates over $200M
High-flying layer1 blockchain network Aptos (APT) liquidated $31.61 million in short positions against it.
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Updated: Jan. 26, 2023 at 6:54 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
The crypto industry’s mild recovery over the last 24 hours has liquidated $212 million from the market, according to Coinglass data.
Over the reporting period, the crypto market posted a 2.85% gain — pushing the value of flagship digital assets like Bitcoin (BTC) and Ethereum (ETH) above $23,000 and $1,600, respectively, again.
BTC accounted for $80.70 million in liquidations, while Ethereum contributed $48.81 million. High-flying layer1 blockchain network Aptos (APT) liquidated $31.61 million in short positions against it.
During this period, the market recovery liquidated 50,517 traders — the most significant liquidation being a $3.85 million position on BTC.
Meanwhile, blockchain analytical firm Santiment pointed out several altcoins ascending over the reporting period. Santiment said:
“Social spikes & FOMO may cause a top, or traders will scoff at this run (allowing rallies to continue).”
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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Ethereum
$3,480.34
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
Aptos
$10.2299
Aptos is an FTX-backed layer-1 blockchain which was developed by ex-Meta employees.