Crypto Tragedy As Over 200,000 Investors Suffer $1.74bn Loss

Crypto market volume hits $167.59bn in 24 hours

It has been a turbulent day for the crypto market as investors have recorded losses following a sudden drop in crypto assets across the market.

247,084 investors with $1.74 billion worth of investments were forced to liquidate, with Huobi-DOT suffering heaviest with $8.51 million worth of liquidation.

Ethereum at the time of writing this report broke below its all-important $4000 price levels, trading at $3,888.57 on the FTX exchange with a daily trading volume of $66 billion. Ethereum is down 5.44% for the day. However, it is still the second most valuable crypto with a market value of about $450.4 billion.

The flagship crypto lost as much as $3,000 within some hours amid record selling pressures in the cryptoverse. Bitcoin traded around the $55,000 price levels with a daily trading volume of $73 billion. Bitcoin is down 6.98% for the day.

Leading Crypto-assets like Polkadot, XRP, Cardano Litecoin were down by more than 10% while dogecoin recorded losses of about 20% of its value.

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