The total value of liquidations skyrocketed to $200 million on a daily scale, as BTC, ETH, SOL, MATIC, and other digital assets jumped by impressive percentages.
After several days of declines or lack of substantial volatility, the cryptocurrency market started to gain value in the past 24 hours.
Bitcoin leads the charge with a 6% increase, which pushed it from below $20,000 to a multi-day high of just under $21,000.
However, some of the altcoins have performed even more impressively, with ETH standing out. Perhaps fueled by the 9th Merge shadow fork going live, the largest altcoins went on a roll, adding more than 10% in a day. Consequently, it tapped a weekly high of its own above $1,200.
Solana has soared by 13% in a day and sits close to $40. Polygon continues its run from yesterday, with another double-digit surge to $0.7. This comes after the network was chosen by Disney for its accelerator program.
As with previous highly volatile trading days, over-leveraged traders have felt some pain, with almost 60,000 liquidated in the past day. Within the same timeframe, the total value of liquidations has soared to $200 million.
The largest single liquidated order happened on OKX, worth almost $2 million in ETH.