Benzinga - The total cryptocurrency market cap climbed back above $1 trillion in the last 24 hours. This comes in light of the news that depositors of now-closed Silicon Valley Bank and Signature Bank will be able to get their funds out, spurring Bitcoin and Ethereum higher.
What Happened: Data from CoinGlass revealed that in the past 24 hours, more than $152 million in shorts were liquidated.
Over 53,519 traders were liquidated, and the total liquidations stand at $212.24 million. The largest single liquidation order happened on Binance at $7.42 million.
Among the assets affected were ETH, worth $78 million, followed by BTC worth $63 million. Binance witnessed the largest shorts liquidation, with $19 million getting liquidated.
The top 30 coins such as Cardano, Polygon, Solana, Litecoin, Avalanche, and Filecoin have all surged by more than 10% as well.
Price Action: At the time of writing, BTC was trading at $22,323, up 8.0%, ETH at $1,595, up 7.78% in the last 24 hours, according to Benzinga Pro.
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