Altcoins
3 Heavily Liquidated Altcoins to Sell Now
The recent trading day saw significant losses for traders, with 59,370 facing liquidations, representing a cumulative loss of $170.64 million. Ethereum, Solana, and Binance Coin, the altcoins to sell, saw significant market corrections. The largest single liquidation order occurred on OKX – ETH-USD-SWAP, valued at $4.00 million. These cryptocurrencies are showing signs of slowing down, indicating potential risks for investors.
1. Altcoins for Sale – Ethereum (ETH)
Ethereum (ETH), a key player in the Proof-of-Stake blockchain space, stands out for its smart contract technology. This allows it to serve as much more than just a digital currency platform, unlike Bitcoin and Solana, which focus primarily on payments.
Ether is essential to the functioning of the network. It powers transactions and rewards nodes that perform complex computations, underscoring the platform’s focus on practical applications.
There has been a noticeable increase in activity around
Decentralized Finance (DeFi) on Ethereum. This surge has led to record levels of investment, with the total value locked (TVL) in these protocols reaching unprecedented levels. This growth highlights the dynamic nature of Ethereum and solidifies its critical role in the digital currency space.
Currently, Ethereum is trading at $3,312, with a trading volume of $13 billion in the last 24 hours. Although there has been a slight decline of 3% since yesterday, its market capitalization remains solid at $398 billion.
Ethereum Price Chart
Ranked second on CoinMarketCapEthereum has seen its value decrease by 12% over the past month. However, it is up 68% year-over-year.
In terms of market activity, $44 million worth of positions were liquidated in the last 24 hours, with long positions accounting for $38 million and short positions accounting for $5.70 million. This marks a period of significant liquidations, especially for altcoins.
2. Solana (SOL)
Solana (SOL), a leading blockchain network, continues to capture attention with its high-speed transaction capabilities and robust platform. Layer 1 The technology has gathered a vast community, which is reflected in its thriving ecosystem and the rise of developers creating decentralized applications. The platform’s innovative features have significantly boosted investor confidence.
Solana Price Chart
Despite recent market slowdowns, Solana Price Solana has maintained a stable price, currently at $142, which is down 4% from the previous day. Over the past year, its price has increased from $20 to its current level, showing a remarkable growth of 643%. Currently ranked fifth on CoinMarketCap, Solana has a market capitalization of $65 billion.
Recent data shows significant market activity, with $11.10 million in liquidations over the past 24 hours, including $8.54 million from long positions and $2.56 million from short positions.
3. Binance Coin (BNB)
Binance Coin (BNB) is a key asset within the Binance ecosystem, operating on both the Binance Chain (BEP-2) and Binance Smart Chain (BEP-20). The high trading volumes on Binance highlight its important role. Additionally, it supports the operation of the exchange’s dual blockchain structure.
Notably, the BNB chain is the leading blockchain. It is home to many of the leading decentralized applications on the market. Recently, Coinbase expanded its asset recovery tool to include support for the BNB Chain and Polygon networks. This expansion has paralleled an upward trend in Bitcoin’s market cap.
However, Binance Coin has recently shown a downward trend in its price. It has fallen below the $580 resistance level, currently trading at $557. This represents a drop of more than 3% in its price. Over the past week, it has decreased by 3% and by 10% over the past month.
BNB Price Table
Over the past 24 hours, BNB experienced notable liquidations. The total was approximately $1.02 million, with long positions representing $1.01 million and short positions representing approximately $12.5 thousand. Coingalass data. This positions BNB among the altcoins experiencing significant liquidations, suggesting a cautious approach for traders.
Conclusion
Given the significant liquidations and corrections taking place in the market, investors are advised to consider selling Ethereum, Solana, and Binance Coin. Monitoring these trends is essential to make timely decisions in a volatile market.
Related Articles
Frequently Asked Questions (FAQ)
Liquidations occur when a trader’s position is forcibly closed by the exchange because the market has moved against them and their account balance is insufficient to maintain margin requirements.
Liquidations can have a significant impact on market volatility. Large-scale liquidations can result in sharp price declines when positions are closed.
Traders can reduce liquidation risk by using lower leverage, maintaining adequate margin balances, using stop-loss orders to limit potential losses, and closely monitoring market conditions to adjust positions if necessary.