Hello!
I want to share an interesting piece of news with you that I think is very important for those who are watching the altcoin market. I read that in the third week of August, there were significant liquidation risks in the market, especially for three altcoins: Solana ( #SOL ), Dogecoin ( #DOGE ) and Chainlink ( #LINK ).
The altcoin market started the week with a capitalization drop of 7%, which immediately caught the attention of traders. The situation with Solana turned out to be very interesting: if the price rises above $200, short positions worth over $1.1 billion may be liquidated, and if it falls to $161, long positions may be liquidated for about $646 million.
Regarding Dogecoin, there are also some peculiarities. Despite positive news (such as Grayscale's application for a spot ETF), many are still waiting for a correction. If the price drops below $0.20, long positions may be liquidated for more than $176 million.
As for Chainlink, as I understood, the situation is more balanced. The risks for 'bulls' and 'bears' are roughly equal: a drop below $22 could lead to the liquidation of long positions worth $85 million, while a rise to $27 could lead to the liquidation of the same amount in short positions.
It is very important to remember such risks, especially when the market is so volatile.