The crypto market suffered a $50 million liquidation event, led by Ethereum and memecoins. With almost $2 million currently liquidated, Ethereum claimed the lead in liquidation volume, while memecoin Pepe saw a startling liquidation of over 640 billion PEPE tokens, corresponding to a value above $1 million. According to Coinglass statistics, over 70% of liquidations occurred across several major exchanges, with short holdings accounting for more than $16 million and long positions accounting for more than $12 million. Bitcoin accounted for a sizable portion of the total cryptocurrency market capitalization, and 24-hour trading volume had topped $42 billion. Market participants should remain alert and prepared for unexpected changes in market mood.
