Cryptocurrency markets experienced extreme volatility with leveraged liquidations reaching $976 million during a severe downturn. Long positions bore the brunt of the deleveraging, accounting for $841 million of the total as prices sharply reversed across major digital assets.
The sell-off triggered double-digit declines in prominent tokens, with XRP, Dogecoin, Stellar (XLM), Hedera (HBAR), and PEPE all shedding more than 10% of their value. Losses exceeded 15% for Aptos (APT), Dogwifhat (WIF), and Flare (FLR) amid broad-based market weakness.
Responding to the turbulence, Binance founder Changpeng Zhao acknowledged the liquidations while urging long-term perspective. He emphasized building fundamental value and avoiding short-term speculation as critical for sustainable growth in the crypto space.
The event amplified anxiety among retail traders, shifting attention toward underlying project fundamentals. Market analysts noted profit-taking at key technical resistance levels accelerated the downturn, intensifying selling pressure.
This represents one of the largest liquidation events this year, underscoring persistent volatility risks in leveraged crypto trading despite evolving institutional adoption.