{"id":224039,"date":"2024-01-05T12:27:45","date_gmt":"2024-01-05T06:57:45","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=224039"},"modified":"2024-01-05T12:27:45","modified_gmt":"2024-01-05T06:57:45","slug":"flash-crash-100b-wiped-from-crypto-market-cap-in-three-hours-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/flash-crash-100b-wiped-from-crypto-market-cap-in-three-hours-crypto-news\/","title":{"rendered":"Flash Crash! $100B Wiped From Crypto Market Cap In Three Hours – Crypto News"},"content":{"rendered":"

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Cryptocurrency speculators are drowning in a sea of red today after a whopping $100B was wiped from the market cap of digital assets. The combined crypto market cap currently sits at $1.72T down from $1.82T three hours earlier.<\/p>\n

Bitcoin<\/a>\u00a0(BTC) last changed hands for $42,500 after tanking 6% in three hours. The move comes after BTC tagged $45,900 on Dec. 2 \u2014 its highest level since April 2022.\u00a0Ethereum<\/a>\u00a0(ETH) also tumbled 6% amid the violent flash crash.<\/p>\n

Combined cryptocurrency market cap. Source: CoinGecko.<\/figcaption><\/figure>\n

Scott Melker, a trader and popular crypto influencer,\u00a0attributed<\/a>\u00a0the move to excessive leverage getting flushed out of the digital asset markets.<\/p>\n

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\u201cOpen interest was mooning with historically high funding rates to be long [of] 66% annualized yesterday,\u201d Melker tweeted. \u201cWe just saw $500M in liquidations, 95% of them longs in under an hour\u2026 Degens are going to degen.\u201d<\/p>\n

\"the-defiant\"
Crypto liquidations over 24 hours. Source: CoinGlass.<\/figcaption><\/figure>\n

More than half of the top 100 digital assets by market cap suffered double-digit losses for the day. BONK suffered the heaviest retracement with an 18.6% pull-back over 24 hours.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Cryptocurrency speculators are drowning in a sea of red today after a whopping $100B was wiped from the market cap of digital assets. The combined crypto market cap currently sits at $1.72T down from $1.82T three hours earlier. Bitcoin\u00a0(BTC) last changed hands for $42,500 after tanking 6% in three hours. The move comes after BTC […]<\/p>\n","protected":false},"author":2,"featured_media":224040,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[274,273,272,244,266,271,268,270,269,267],"class_list":["post-224039","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-de-fi","tag-crypto-finance","tag-decentralized-finance","tag-liquidity","tag-metamask","tag-pancake","tag-slippage","tag-sushiswap","tag-tronlink","tag-trust-wallet","tag-uniswap"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/224039","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=224039"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/224039\/revisions"}],"predecessor-version":[{"id":224042,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/224039\/revisions\/224042"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/224040"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=224039"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=224039"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=224039"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}