AsSam Bankman-Fried's FTX witnessesan intensive selloff in its native token,FTTFTT/USD ,BitcoinBTC/USD ,EthereumETH/USD , andDogecoinDOGE/USD saw $17.37 million in liquidations, or 45% of the total market liquidation, in the past hour.
What Happened: According toCoinGlass, BTC accounted for over $7.45 million of all liquidations, followed by ETH at $8.69 million and DOGE at nearly $1.23 million in the last hour.
FTT is currently experiencing $2.43 million worth of liquidations.
This comes as cryptocurrency prices plummeted amid reports of FTX bankruptcy.Changpeng Zhao, the founder and CEO ofBinanceBUSD/USD , the world's largest cryptocurrency exchange, announced that his trading platform is about to liquidate its entire FTT holdings.
See More:FTX Token (FTT) On-Chain Trading Signals
FTX recorded over $18.51 million worth of liquidations $11.76 million longs ( traders betting on higher prices) and $6.75 million shorts (traders betting on low prices). Binance topped the table for market liquidation accounting for $24.30 million in liquidations.
Price Action:In the past hour, Bitcoin declined 2.22%, falling below the key $20,000 level.Ethereumdropped 2.03% to $1,461.75. Dogecoin was down 0.70%, falling below the $1 mark, according todata from Benzinga Pro.
Read Next:FTX Token (FTT) Plunges 19% In 1 Hour Amid Binance's Plan To Liquidate Entire FTX Native Token Holdings
