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$4.5M Dogecoin Liquidated Amid Silvergate Uncertainty

Published 03/03/2023, 03:46
Updated 03/03/2023, 05:10
© Reuters.  $4.5M Dogecoin Liquidated Amid Silvergate Uncertainty
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Benzinga - Dogecoin (CRYPTO: DOGE) dropped 7% in the last 24 hours, as major cryptocurrency firms continue to distance themselves from Silvergate Capital (NYSE: SI).

What Happened: CoinGlass data showed that over $4.54 million worth of DOGE was liquidated within the last four hours. OKX alone saw liquidations worth $2.10 million, followed by Binance with $1 million.

Across the crypto market, liquidations totaled a staggering $251 million, affecting 84,484 traders.

See More: Top Indian Apps That Give Bitcoin, NFT Rewards

Dogecoin saw its liquidations fall behind Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) in the last four hours, with BTC overflowing at $76 million while ETH hit a staggering $40 million.

During the U.S. trading day, Silvergate’s stock dropped over 50% as crypto clients fled the bank over bankruptcy concerns.

Price Action: At the time of writing, DOGE was trading at $0.075, in the last 24 hours, according to Benzinga Pro.

Read More: Bitcoin, Ethereum, Dogecoin Slide On Silvergate Panic: Analyst Says 'Time For A Squeeze'

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

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