Crypto Market Crash: $670 Billion Loss and Intensified Altcoin Decline
The crypto market has experienced its largest single-day crash in history, resulting in over $19 billion in liquidations and affecting 1.6 million traders in the last 24 hours.
The crash follows the imposition of a 100% tariff on China by US President Donald Trump, further escalating the trade war. According to veteran trader Arthur Hayes, investors lost approximately $670 billion in today's crypto crash, largely due to CEX auto liquidations.
- Top altcoins such as ETH, BNB, XRP, and Solana (SOL) have corrected 12-20% amid the massive liquidation.
- Other altcoins like DOGE, LINK, and ADA have incurred even greater losses.
- Some altcoins on Binance have reportedly tanked as much as 90%.
The market crash and liquidations have resulted in significant losses for investors, with the crypto market losing $670 billion.
Author's summary: Crypto market crashes, losing $670 billion.