A Billion-Dollar Crypto Liquidation Erupts in 24 Hours, Plunging Markets and Igniting Transparency Debates

• Over $1.08 billion in crypto liquidations in 24 hours, with ETH, XRP, ADA, and SOL among the hardest-hit assets.
• The Crypto Strategic Reserve proposal sparked controversy, with accusations of insider dumping and market manipulation.
• Coinglass calls for Binance transparency, reigniting debates on centralized exchange accountability.

The cryptocurrency market faced a large-scale sell-off, with over $1.08 billion in leveraged positions liquidated in the past 24 hours. 

Traders betting on price increases lost nearly $498 million, while those in short positions accounted for $583.93 million. Ethereum (ETH), XRP, Cardano (ADA), and Solana (SOL) saw significant liquidations, rattling many crypto investors.

Major Liquidations Across Top Cryptocurrencies

Data shows Bitcoin (BTC) led the liquidation wave with $415.11 million wiped out, followed by Ethereum at $190.82 million. XRP posted $96.50 million in liquidations, ADA $86.91 million, while SOL trailed closely with $86.76 million. 

Notably,  Binance accounted for the largest single liquidation event, where a BTC/USDT trade valued at $15.49 million was erased.

Crypto Strategic Reserve Sparks Debate

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