Halloween comes early as crypto market loses $140 billion after Binance hack

Halloween came one day early for digital asset investors, as the unexpected $6.3 billion hack shook Binance and led to a massive, twelve-figure industry sell-off. Between 5 p.m. (UTC) on October 29 and 2:30 p.m. (UTC) on October 30, the overall cryptocurrency market capitalization dropped from $2.73 trillion to $2.59 trillion. The Binance incident was thus accompanied by a nearly 3.5% loss in the industry’s market value, with $147.37 billion wiped out in less than twenty-four hours, citing CoinMarketCap . Bitcoin, Ethereum take the biggest hit in terms of liquidations Bitcoin ( BTC ) traders also recorded the largest liquidation volume, with roughly $545 million in positions wiped out, per CoinGlass . Long positions made up 83% of the total, as BTC fell below key psychological price levels to $76,600.

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