{"id":503230,"date":"2022-09-22T17:00:01","date_gmt":"2022-09-22T17:00:01","guid":{"rendered":"https:\/\/uniquehot.com\/?p=503230"},"modified":"2024-06-12T09:18:53","modified_gmt":"2024-06-12T09:18:53","slug":"fed-interest-rates-hike-spur-crypto-market-liquidations-of-more-than-330-million","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/fed-interest-rates-hike-spur-crypto-market-liquidations-of-more-than-330-million\/","title":{"rendered":"Fed Interest Rates Hike Spur Crypto Market Liquidations Of More Than $330 Million"},"content":{"rendered":"

The FOMC meeting held on Wednesday and its subsequent results deeply affected the state of the crypto market. Given the large swings in price during and after the meeting, liquidation volumes had quickly risen across the market. Tens of thousands of traders were caught in the crossfire in what has come out to be the largest liquidation trend in the last few months.\u00a0<\/span><\/p>\n

Crypto Liquidations Reach $330 Million<\/h2>\n

On Wednesday, the Fed had announced that it was raising interest rates by another 0.75 points. This decision directly impacted the crypto market as well as the broader macro markets, causing the price of bitcoin to plummet about 8% before a swift recovery.<\/p>\n

Related Reading: Bitcoin Dumps After Revisiting June Lows, Where Does The Bottom Lie?<\/a><\/strong><\/em><\/div>\n

The decline triggered massive liquidations across the market<\/a>. By Thursday, the total liquidation in the crypto market had crossed $330 million, with more than 88,000 traders affected. Given the decline, long traders had obviously suffered the most, but since the price had seen sharp recoveries too, short traders were also hit heavily.\u00a0<\/span><\/p>\n

\"Crypto<\/p>\n

Liquidations cross $330 million | Source: Coinglass<\/a><\/pre>\n
Of the $336 million in liquidations recorded in the last day, 58.96% were from long traders, meaning $138.13 million were from short liquidations. The largest single liquidation came from the Okex exchange, with a single trade worth $3.13 million across the BTC-USDT-SWAP pair.<\/p>\n
Ethereum Takes The Lead<\/h2>\n
In recent times, the focus has been on Ethereum after the digital asset had successfully upgraded from proof of work to proof of stake. This increased attention has amplified the performance of the cryptocurrency and its traders in recent times as well.<\/p>\n
ETH liquidations made up almost half of the $336 million in liquidations recorded across the crypto market in a 24-hour period. With 117.73K ETH liquidated, it came out to a dollar value of $151.45 million during this time.<\/p>\n
\"Crypto<\/p>\n
Market cap at $884 billion | Source: Crypto Total Market Cap on TradingView.com<\/a><\/pre>\n
In contrast, the leading cryptocurrency, Bitcoin, recorded a total of 5.50K BTC liquidated during this time period for a total of $105.31 million. This means that ETH liquidation volumes came out to about 50% more than that of BTC.<\/p>\n
Related Reading: Prepare For Volatility: Data Suggests Bitcoin Gets Chaotic During FOMC Meetings<\/a><\/strong><\/em><\/div>\n
XRP was another token that saw massive liquidations, although to a lower extent compared to bitcoin and Ethereum. XRP saw $9.77 million in volume, while SOL and ETC reached $6.73 million and %5.61 million, respectively. All other cryptocurrencies saw liquidation volumes below $5 million.<\/p>\n
Featured image from The World Economic Forum, chart from TradingView.com<\/pre>\n
Follow <\/i><\/b>Best Owie on Twitter<\/i><\/b><\/a> for market insights, updates, and the occasional funny tweet\u2026<\/i><\/b><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"
The FOMC meeting held on Wednesday and its subsequent results deeply affected the state of the crypto market. Given the large swings in price during and after the meeting, liquidation volumes had quickly risen across the market. Tens of thousands of traders were caught in the crossfire in what has come out to be the largest liquidation trend in the last few months.\u00a0 Crypto Liquidations Reach $330 Million On Wednesday, the Fed had announced that it was raising interest rates by another 0.75 points. This decision directly impacted the crypto market as well as the broader macro markets, causing the price of bitcoin to plummet about 8% before a swift recovery. Related Reading: Bitcoin Dumps After Revisiting June Lows, Where Does The Bottom Lie? The decline triggered massive liquidations across the market. By Thursday, the total liquidation in the crypto market had crossed $330 million, with more than 88,000 traders affected. Given the decline, long traders had obviously suffered the most, but since the price had seen sharp recoveries too, short traders were also hit heavily.\u00a0 Liquidations cross $330 million | Source: Coinglass Of the $336 million in liquidations recorded in the last day, 58.96% were from long traders, meaning $138.13 million were from short liquidations. The largest single liquidation came from the Okex exchange, with a single trade worth $3.13 million across the BTC-USDT-SWAP pair. Ethereum Takes The Lead In recent times, the focus has been on Ethereum after the digital asset had successfully upgraded from proof of work to proof of stake. This increased attention has amplified the performance of the cryptocurrency and its traders in recent times as well. ETH liquidations made up almost half of the $336 million in liquidations recorded across the crypto market in a 24-hour period. With 117.73K ETH liquidated, it came out to a dollar value of $151.45 million during this time. Market cap at $884 billion | Source: Crypto Total Market Cap on TradingView.com In contrast, the leading cryptocurrency, Bitcoin, recorded a total of 5.50K BTC liquidated during this time period for a total of $105.31 million. This means that ETH liquidation volumes came out to about 50% more than that of BTC. Related Reading: Prepare For Volatility: Data Suggests Bitcoin Gets Chaotic During FOMC Meetings XRP was another token that saw massive liquidations, although to a lower extent compared to bitcoin and Ethereum. XRP saw $9.77 million in volume, while SOL and ETC reached $6.73 million and %5.61 million, respectively. All other cryptocurrencies saw liquidation volumes below $5 million. Featured image from The World Economic Forum, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet\u2026<\/p>\n","protected":false},"author":541,"featured_media":503241,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83386,3,13625],"tags":[428,1119,85578,8323,1946,85078,85840],"class_list":["post-503230","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","category-news","category-ethereum","tag-bitcoin","tag-btc","tag-crypto-liquidations","tag-eth","tag-ethereum","tag-liquidations","tag-market-liquidations"],"acf":[],"yoast_head":"\nFed Interest Rates Hike Spur Crypto Market Liquidations Of More Than $330 Million<\/title>\n<meta name=\"description\" content=\"The FOMC meeting held on Wednesday and its subsequent results deeply affected the state of the crypto market. 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This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/uniquehot.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Fed Interest Rates Hike Spur Crypto Market Liquidations Of More Than $330 Million","url":"http:\/\/uniquehot.com\/news\/fed-interest-rates-hike-spur-crypto-market-liquidations-of-more-than-330-million\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/fed-interest-rates-hike-spur-crypto-market-liquidations-of-more-than-330-million\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/09\/Crypto-scaled.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/09\/Crypto-scaled.jpeg?fit=2560%2C1707"},"articleSection":"Crypto","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc","crypto liquidations","eth","ethereum","liquidations","market liquidations"],"dateCreated":"2022-09-22T17:00:01Z","datePublished":"2022-09-22T17:00:01Z","dateModified":"2024-06-12T09:18:53Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Fed Interest Rates Hike Spur Crypto Market Liquidations Of More Than $330 Million\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/fed-interest-rates-hike-spur-crypto-market-liquidations-of-more-than-330-million\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/fed-interest-rates-hike-spur-crypto-market-liquidations-of-more-than-330-million\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2022\\\/09\\\/Crypto-scaled.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2022\\\/09\\\/Crypto-scaled.jpeg?fit=2560%2C1707\"},\"articleSection\":\"Crypto\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\",\"crypto liquidations\",\"eth\",\"ethereum\",\"liquidations\",\"market liquidations\"],\"dateCreated\":\"2022-09-22T17:00:01Z\",\"datePublished\":\"2022-09-22T17:00:01Z\",\"dateModified\":\"2024-06-12T09:18:53Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/09\/Crypto-scaled.jpeg?fit=2560%2C1707","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/503230","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=503230"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/503230\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/503241"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=503230"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=503230"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=503230"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}