While the crypto market is going through a bullish timeline, the altcoins are behaving unusually, recording a total liquidation of nearly $200 million in the past 24 hours. The liquidation is led by two of the most popular tokens, BIGTIME and ORDI.
According to Coinglass data, the cryptocurrency market had a total liquidation of approximately $250 million in the past 24 hours at the time of writing.
While excluding BTC liquidation, it represents a figure of over $200 million, which is dominated by ETH, ORDI, and BIGTIME.
ORDI is the native token for the Ordinals protocol, which issues inscription NFTs on Bitcoin. The token has surged over 25% in the past 24 hours, which has caused more than $14 million in liquidation in its futures markets.
Similarly, BIGTIME has also soared over 40% in the past 24 hours, resulting in the liquidation of more than $12 million of futures. It is a native token for an online RPG game. Both of these tokens have seen the highest futures liquidation after BTC and ETH.
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