Over $320,000,000 in Bitcoin and Crypto Liquidated in Last 24 Hours As Inflation Data Triggers Market Bounce

Hundreds of millions of dollars worth of Bitcoin (BTC) and other crypto assets liquidated on the final day as renewed inflation sparked a market rally.

According to the U.S. Bureau of Labor Statistics’ new Consumer Price Index (CPI) reportIt broadly measures the change in the price paid by consumers for goods and services minus food and gas.

The news of the smallest 12-month increase since the period to October 2021 sent the market into a frenzy despite $320 million worth of digital assets being traded. liquidated In the last 24 hours, according to market analysis firm Coinglass.

According to Coinglass data, the most sold crypto asset is Ethereum (ETH), the top smart contract platform by market capitalization. On the final day, $36.35 million worth of ETH was liquidated and approximately $18.3 million worth of BTC was sold.

At the time of writing, Bitcoin is trading at $18,262 while ETH is trading at $1,385.

Other notable crypto assets on the list include peer-to-peer decentralized network and BTC alternative Litecoin (LTC), memetic assets Dogecoin (DOGE), XRP, and Ethereum rival Solana (SOL). It is included.

Cryptocurrency liquidations were $2.34 million, $2.24 million, $1.69 million, and $1.36 million, respectively.

About 18% of all liquidations came from two sources: crypto exchange platforms OKX and Binance. According to Coinglass, on OKX he had $41.7 worth of liquidations, and on the world’s largest digital asset exchange by volume, he generated nearly $16 million.

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