Crypto Market Hit Hard as $566 Million Liquidated After $1.4B Bybit Hack
The cryptocurrency market took a hit as $566 million was liquidated in just one day. Major altcoins such as XRP, Solana (Sol), Dogecoin (Doge) and Shiba Inu (Shib) all fell into red. The global crypto municipal cap also fell by 2%, now at 3.17 trillion. This confusion is a shocking response $1.4 billion by Bybit Hack That shocked the crypto world.
Crypto clearing results in $566 million
The cryptocurrency market experienced a sharp decline following the Bybit violation, resulting in liquidation worth $566 million in just 24 hours. According to data From coinglass151,222 traders were affected, with the highest hit rate in a long time.
Meanwhile, it has long caused $321 million in losses, while sales in short positions are $234 million. The largest clearing order occurred on Binance, involving the BTC/USDT trade, worth $12.14 million.
Bitcoin and Altcoins face sales pressure
Bitcoin (BTC) also felt pressured, losing 2% of its value in a day, dropping to $96,170. During this period, Bitcoin’s market advantages Slightly reduced by 0.47%, settled at 61.09%.
Coinglass data shows that BTC alone recorded $133 million in liquidation, highlighting the intensity of the sell-off.
However, with XRP dropping by 3%, Solana (Sol) dropped by 3.5%, while Dogecoin (Doge) dropped by 4%, so AltCoins suffered a bigger loss. Cardano (ADA) saw the biggest drop at 5%, while Shiba Inu (Shib) dropped 2%.
The overall cryptocurrency market lost 2% of its value, reducing its total market capitalization to $31.7 trillion, reflecting traders’ panic.
Top crypto cake
BITGET Token (BGB): – The biggest profiter Growth 4.7% Hovering around $5.
Manufacturer (MKR): – The recorded earnings were around $1513.
ethena(ena): – Even traded in green, up 3.41%.
Top encryption losers
Jito (JTO): – One of the biggest losers of the day, losing 16.5%.
Berachaain (Bera): – Another symbolic ranking second, with a maximum loss of 13.6%.
Stroy (IP): – Records fell 12%, with trading around $4.40.
