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Crypto market sees $693 million in long liquidations, Jordan Kerridge notes

Crypto market sees $693 million in long liquidations, Jordan Kerridge notes
Crypto long positions see $693 million liquidated

More than $693 million in long positions have been liquidated across the crypto market in the past 24 hours.

Jordan Kerridge stated this represents a substantial amount of leverage being cleared from the market. Kerridge added that while these liquidations can create additional selling pressure in the short term, they also remove a significant amount of overleveraged positions.

In a previous episode of heightened market stress, over $1 billion in crypto positions were liquidated within 24 hours, according to Kerridge's earlier report. Kerridge has also covered developments in crypto infrastructure, noting Paxos's recent addition of XRP to its brokerage platform. These recent events reflect the ongoing adjustments and activity in the digital asset sector.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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