New data shows $1.58 billion in crypto was liquidated on exchanges by 239,368 traders in the last 24 hours.
At the time of writing, Bitcoin (BTC) made up most of these liquidations. $12.33 million worth of BTC was liquidated, followed by Ethereum (ETH) at $1.36 million, Theta (THETA) at $939.01 thousand, Ripple (XRP) at $852.08 thousand, and Storj (STORJ) at $694 thousand.
In addition, four other assets including Filecoin (FIL), Harmony Protocol One Coin (ONE), Alpha Coin (ALPHA), and Ankr (ANKR) made up almost another $700 thousand in liquidated positions.
Binance accounted for half of the liquidations at 50%. Bybit and Huyobi accounted for 27% and 16% respectively.
The biggest single liquidation order happened on the Seychelles-based cryptocurrency exchange, Huobi-BTC, valued at $10.2 million.
BTC and ETH Returns Down as Coins Liquidated
Bitcoin has been decreasing since, peaking at $61,884. It is currently trading at $55,237, with 24-hour returns down 3.61%.
Falling below the $57,800 validated it as resistance. The current downturn has resulted in a bearish outlook for the coin reaching new heights since the beginning of the year.
However, it’s always hard to tell with Bitcoin, and despite the struggle to get back over $58,000, long-term optimism has analysts holding onto hope for another bullish upswing shortly.
Much like bitcoin Ethereum has been on a downward trajectory since reaching a high of $1,943 on March.13.
ETH is currently trading at $1,711.25, a 3.79% decline over the last 24 hours. Much like Bitcoin, it’s hard to tell if this will create a continued decline or preceded a bullish bounce.
Storj Passes $1.22 Resistance
Storj has passed its $1.22 resistance level, reaching $1.33 at the time of writing. This represents a 37.50% increase over the last 24-hours.
Breaking this barrier is unsurprising as a bullish trend had been spotted in the coin’s recent upward trajectory.