Tariff turmoil sparks $1 billion in liquidations: CoinGlass
According to data from CoinGlass, altcoins like SOL, XRP and ADA saw more than $150 million in liquidations on March 4.
Cryptocurrency derivatives traders suffered more than $1 billion in liquidations in the past 24 hours as fears of a looming trade war sent markets tumbling, according to data from CoinGlass.
More than 87% of liquidations came from long positions after a volatile start to March that saw double-digit losses on March 4 erase similarly large gains from only days earlier, the data showed.
On March 4, US President Donald Trump imposed 25% tariffs against Canada and Mexico, the United States’ largest trading partners, sending the S&P 500 stock index down nearly 2% in morning trading.