{"id":35477,"date":"2024-08-05T13:19:45","date_gmt":"2024-08-05T13:19:45","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/solana-plummets-to-near-110-amid-1-billion-crypto-liquidation\/"},"modified":"2024-08-05T13:19:45","modified_gmt":"2024-08-05T13:19:45","slug":"solana-plummets-to-near-110-amid-1-billion-crypto-liquidation","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/solana-plummets-to-near-110-amid-1-billion-crypto-liquidation\/","title":{"rendered":"Solana plummets to near $110 amid $1 billion crypto liquidation"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/1667935724405-d7b53908-e491-47cf-a41a-4b188b397d84-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/1667935724405-d7b53908-e491-47cf-a41a-4b188b397d84-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/1667935724405-d7b53908-e491-47cf-a41a-4b188b397d84-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/1667935724405-d7b53908-e491-47cf-a41a-4b188b397d84-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<p><span style=\"font-weight: 400\">Solana has plunged more than 20% to trade near $110 as crypto traders see more than $1 billion in trading positions wiped out in the past 24 hours.<\/span><\/p>\n<p><span style=\"font-weight: 400\">SOL dipped as Bitcoin led the crypto market in the bloodbath that had BTC testing lows of $49k and Ethereum tumbling to under $2.2k. Solana, which traded at highs of $145 late Sunday, fell sharply to test the $111 price level on Monday.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Declines for SOL and the rest of the crypto market came as investor fears over a US recession catalysed a global market meltdown in stocks. The Federal Reserve\u2019s interest rates policy is also a major concern, while geopolitical tensions are also a factor.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">&#8220;I&#8217;m calling for a 75 basis point emergency cut in the Fed funds rate, with another 75 basis point cut indicated for next month at the September meeting \u2013 and that&#8217;s minimum,&#8221; says Wharton&#8217;s Jeremy Siegel: <a href=\"https:\/\/t.co\/s4CgWx962Q\">pic.twitter.com\/s4CgWx962Q<\/a><\/p>\n<p>\u2014 Squawk Box (@SquawkCNBC) <a href=\"https:\/\/twitter.com\/SquawkCNBC\/status\/1820420112895074315?ref_src=twsrc%5Etfw\">August 5, 2024<\/a><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400\">In the crypto market, jitters over selling pressure from Jump Trading intensified the bleeding for ETH and other altcoins.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Crypto sees over $1 billion in liquidations<\/span><\/h2>\n<p><span style=\"font-weight: 400\">As crypto prices tumbled on Monday to see the total market cap dip 17% to under $1.9 trillion, hundreds of crypto traders experienced massive liquidations.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Coinglass <\/span><a href=\"https:\/\/www.coinglass.com\/LiquidationData\"><span style=\"font-weight: 400\">data showed<\/span><\/a><span style=\"font-weight: 400\"> early Monday that total liquidations jumped more than 400% to over $1.1 billion. These were mainly long positions, with data indicating more than $962 million were leveraged positions that had bullish bets on crypto prices.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Amid the BTC crash and broader market decline, the number of crypto traders liquidated in 24 hours spiked past 301,700. <\/span><\/p>\n<p><span style=\"font-weight: 400\">The total liquidations at the time of writing stood at $1.14 billion, with the largest single liquidation order being the $27 million in BTC.USD wiped out on crypto exchange Huobi.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Notably, short liquidations were at just $174 million, with $64 million in bearish bets for BTC and $50 million for Ethereum in 24<\/span><\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/solana-plummets-to-near-110-amid-1-billion-crypto-liquidation\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) Solana has plunged more than 20% to trade near $110 as crypto traders see more than $1 billion in trading positions wiped out in the past 24 hours. SOL dipped as Bitcoin led the crypto market in the bloodbath that had [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":35478,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/35477"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=35477"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/35477\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/35478"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=35477"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=35477"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=35477"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}