LAYER Liquidations Surge to $23.74 Million, Following Bitcoin and Ethereum Trends

On February 12, COINOTAG reported that recent crypto liquidation activities have caused significant fluctuations in the market. According to data from Coinglass, the overall LAYER liquidation across the network hit a staggering $23.74 million in just 24 hours. This figure comprises $17.17 million from long positions and $6.57 million from short positions, underscoring the volatility in trading strategies. Notably, the volume of LAYER liquidations stands as the third highest, trailing only behind the dominant giants, Bitcoin and Ethereum. This trend emphasizes the critical need for traders to closely monitor market conditions and implement sound risk management strategies to navigate the inherent risks of cryptocurrency trading.