$1 Billion Wiped Out Of Crypto Market Amid Bitcoin, Ethereum Crash
The crypto market underwent a brutal crash during the late U.S. hours on Thursday, August 17. Bitcoin and Ethereum created lows around $25,100 and $1,550, respectively. Most other crypto assets also mirrored the bearishness. As a result, the aggregate crypto market cap slipped below the $1 trillion threshold and created a low of around $996.9 billion. A modest recovery was noted right after. However, bearish pressure was still prevalent at press time. BTC/USDT by TradingView Also Read: 1005 ‘Virgin’ Bitcoins Moved After 13 Years: Is Satoshi Back? Owing to the sudden dip in prices, more than $1 billion worth of trades were liquidated over the past 24-hours. In fact, more than 75% of the trades were rekt in a window of merely 30 minutes. Individually, BTC trades worth $493.52 million and Ether trades worth $306.98 million were wiped out of the market. Data from Coinglass revealed that the largest single liquidation order took place on Binance. An ETH/BUSD pair valued at $5...