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According to data from crypto analytics platform CoinGlass, over $142 million in Bitcoin shorts has been liquidated over the past 24 hours. Ethereum’s bullish price performance has also led to a similar wave of liquidated shorts, resulting in over $103 million liquidations during the same period. https://twitter.com/bTT___/status/1508396087916253191 Bitcoin (BTC) and Ethereum (ETH) are both up roughly 6% over the past 24 hours with BTC currently trading over $47,000, while ETH is trading at $3,343. Analysts argue that Bitcoin’s recent price rally to $47,000 was a response to short liquidations in massive quantities over the weekend as the transaction volume of the flagship cryptocurrency recently exceeded $100 billion.
Crypto Trading Volume Exceeds $100B in 24 Hours
Chinese crypto journalist, Colin Wu, reported a spike in the total transaction volume of cryptocurrencies, exceeding $100 billion over the past 24 hours, and observed a 63.07% increase in crypto transaction volume compared to March 26, 2022, citing data from CoinMarketCap. https://twitter.com/WuBlockchain/status/1508340765063528448 The total market capitalization of all cryptocurrencies has now soared past $2.1 trillion.