Ethereum Dominates Liquidations with $156 Million as $421 Million Sweeps the Market

In a significant market movement, COINOTAG reports on May 11th that recent data from Coinglass reveals a staggering total of $421 million in liquidations across the cryptocurrency landscape within a 24-hour span. The majority of these liquidations stemmed from short positions, amounting to $271 million. Notably, Ethereum emerged as the leading asset in this liquidation wave, with a total of $156 million liquidated, outpacing even Bitcoin. Specifically, liquidations of Ethereum’s short positions reached approximately $98.525 million. This surge underscores the volatility and inherent risks associated with cryptocurrency trading, emphasizing the need for cautious investment strategies.