There’s one more consequence to the favorable court ruling for crypto traders: the sounds of short sellers getting slammed by exorbitant liquidations. Market analysis firm Coinglass reports that over $218 million worth of digital assets were lost in liquidations from prominent crypto exchanges the past 24 hours, as XRP skyrocketed 74% to peak $0.82 from its earlier $0.47. Though the price of the altcoin has since retraced, sizable liquidations were experienced across various platforms, with $77.7, $59.8, and $30.6 million respectively liquidated from Binance, OKX, and Bybit. Altcoins such asSolana, Arbitrum, Optimism, Cardano, Avalanche, Stellar, and ApeCoin weren’t left untouched either, scoring in double-digit price increases. As per Coinglass, the top assets undergoing liquidation for shorts were XRP, Bitcoin, Solana, and Ethereum.
