Hundreds of millions of dollars in Bitcoin (BTC) and other crypto assets have been liquidated over the past day as new inflation fuels a bounce in markets.
According to the US Bureau of Labor Statistics’ new Consumer Price Index (CPI) report, which measures changes in the prices paid by customers for goods and services excluding groceries and gasoline, inflation for December 2021 through 2022 is around 6 .5% up.
According to market analysis firm Coinglass, news of the smallest 12-month gain since late October 2021 has sent markets higher, despite $320 million worth of digital assets being liquidated in the past 24 hours.
Data from Coinglass shows that the best-selling crypto asset was Ethereum (ETH), the leading smart contract platform by market cap. In the last day, $36.35 million worth of ETH was liquidated while about $18.3 million worth of BTC was sold.
Bitcoin is changing hands for $18,262 at the time of writing, while ETH is changing hands for $1,385.
Other notable crypto assets on the list include peer-to-peer decentralized network and BTC alternative Litecoin (LTC), meme asset Dogecoin (DOGE), XRP, and Ethereum rival Solana (SOL).
The crypto assets recorded liquidations of $2.34 million, $2.24 million, $1.69 million and $1.36, respectively.
About 18% of total liquidations came from just two sources: crypto exchange platforms OKX and Binance. According to Coinglass, OKX recorded $41.7 worth of liquidations, while the world’s largest digital asset exchange saw nearly $16 million.
Don’t miss a thing – Sign up to receive crypto email alerts straight to your inbox
Check the price action
follow us on TwitterFacebook and Telegram
Surf the Daily Hodl Mix
Check the latest headlines
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any risky investments in bitcoin, cryptocurrency or digital assets. Please note that you transfer and trade at your own risk and any losses you incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured image: Shutterstock/wirow/PurpleRender