Bitcoin’s close approach to the $100,000 milestone on November 24 spurred significant trading activity, resulting in one of the largest weekend cryptocurrency liquidation events over six months. Over $470 million in positions were cleared within 24 hours, reflecting heightened market engagement, according to CoinGlass.
Altcoins took centre stage, with Bitcoin (BTC) and Ethereum (ETH) accounting for $108.9 million in combined liquidations. Dogecoin (DOGE), XRP, and Stellar (XLM) saw strong movements, contributing $33.1 million, $27.6 million, and $21.6 million, respectively. Other notable tokens, including Solana (SOL), Sandbox (SAND), Polkadot (DOT), and Cardano (ADA), also experienced significant trading volumes.
The weekend saw remarkable altcoin rallies, with Stellar surging 50% and Dogecoin reaching its highest level since May 2021. Analysts highlight this as a signal of renewed interest from traders revisiting familiar tokens and recognizing opportunities in altcoins, which continue to show resilience and potential for growth.
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