Bitcoin, Ethereum, and XRP Crash Triggering $637M in Liquidations
Overview
A recent crash in the cryptocurrency market over the weekend led to significant liquidations totaling $524 million. This downturn was primarily fueled by concerns regarding Tether’s stability and selling pressure from DAT.
What Happened
The weekend witnessed a sharp decline in the prices of major cryptocurrencies, including Bitcoin, Ethereum, and XRP. This downturn resulted in substantial liquidations, amounting to $524 million. The market volatility was driven by rising fears surrounding the stability of Tether, a prominent stablecoin, which contributed to the panic among investors. In addition, selling pressure from DAT played a crucial role in exacerbating the situation, further impacting market sentiment.
Impact on the crypto market
- Total liquidations reached $524 million during the weekend crash.
- Concerns over Tether’s stability heightened investor anxiety.
- Selling pressure from DAT significantly influenced market dynamics.
- Major cryptocurrencies like Bitcoin, Ethereum, and XRP experienced notable price declines.
- The incident reflects ongoing vulnerabilities within the cryptocurrency market.
Updated: 12/1/2025, 10:31:07 AM
