$13 million in crypto liquidations after altcoin leverage hits all-time high – Details

Key Points

1. Ethereum (ETH) led the losses with $7.95 million in liquidations, followed by Bitcoin (BTC) with $2.2 million, and DOGE and ENA with $1.55 million and $1.17 million, respectively.

2. Altcoin Open Interest hit a record $45 billion before the sell-off, highlighting market fragility and overheated leverage.

3. The surge in leverage suggests the market may need a cooling-off period, with traders likely to become more cautious about aggressive long positions.

4. Solana (SOL) also saw notable liquidations, though under $1 million.

5. The high leverage and subsequent liquidations indicate potential for further volatility unless market conditions stabilize.