(Monday, 05 Aug 2024, 03:26 PM GMT):
In the cryptocurrency market, the August month have been tough for investors. A significant sell-off has caused the price of Lido Dao (LDO), to drop by 22% in just the last 24 hr. and 38% in last 7 days. Lido Dao is now priced at $0.9976, bringing its market capitalization down to $897 Million.
According to Coinglass, investors have lost a total of $1.65 million in liquidations related to Notcoin over the past 24 hours. Out of this, those holding long positions lost $1.55 million, while short position holders lost $97,500.
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 $1.14 billion in the last 24 hours, affecting various cryptocurrencies.