The altcoin market is in turmoil, with over 200 million dollars in long positions being liquidated!

Oh dear, this altcoin market is really nerve-wracking! Recently, the volatility has been as thrilling as a roller coaster. Did you know that in such a short time, over 200 million dollars in long positions were forcibly liquidated in the market?

Ethereum and Solana, which are usually quite popular altcoins, have suffered significant losses this time. As the volatility spiked, those leveraged traders couldn't hold on and could only watch helplessly as their positions were liquidated. It is said that in the past 24 hours, a total of 268 million dollars were cleared, with long positions accounting for 217 million dollars. Just hearing that number makes one feel uneasy.

Especially Ethereum, which received special attention this time, with a liquidation amount reaching 56.55 million dollars. Solana also couldn't escape, with a liquidation of 33.59 million dollars leaving it in pain. Other coins like Ripple, Dogecoin, and Bitcoin also suffered heavy losses.

This wave of liquidations is simply a barometer of market sentiment. When the funding rate turns negative, everyone immediately becomes cautious, and positions start to shrink. Whether this is just a small adjustment in the market or a precursor to a deeper decline is uncertain.

But one thing is for sure, the risks in the cryptocurrency market are not to be taken lightly. Once leverage is added, it's like dancing on the edge of a knife; a slight misstep can lead to a fall.

So, we investors still need to be careful. Don't let the hot market cloud your judgment; leveraging should be done within your means. After all, no matter how quickly you make money, you must be able to hold onto it!