Panic in risk assets, cryptocurrency faces the largest liquidation wave in nearly six months

ChainCatcher news, according to Jin10 reports, the cryptocurrency prices plummeted last night, and the weakness in the cryptocurrency market had already emerged before Friday.

Coinglass data shows that approximately $10 billion in bets were wiped out in the past 24 hours, marking the largest liquidation wave since at least early April. Tokens with lower liquidity were hit the hardest: XRP, DOGE, and Cardano's ADA fell by approximately 19%, 27%, and 25%, respectively.

Ravi Doshi, co-head of markets at major brokerage Falcon X, stated that unexpected events in the trade sector have led to market uncertainty and triggered a crash in risk assets.