(Monday, 05 Aug 2024, 04:19 AM GMT):
In the cryptocurrency market, the August month have been tough for investors. A significant sell-off has caused the price of Notcoin (NOT), a popular Tap-to-Earn project, to drop by 28% in just the last 7 days. Notcoin is now priced at $0.0098932, bringing its market capitalization down to $1.0 Billion.
According to Coinglass, investors have lost a total of $3.33 million in liquidations related to Notcoin over the past 24 hours. Out of this, those holding long positions lost $2.36 million, while short position holders lost $964,400.
The main factor that contributing to this sharp decline is global market downfall and the fear of recession.
Overall, the crypto market has seen a massive liquidation of $823 million in the last 24 hours, affecting various cryptocurrencies.