Leverage-Linked Liquidations Pummel Solana, Polkadot, and The Sandbox Today
As of 4 p.m. ET, Solana (CRYPTO: SOL), Polkadot (CRYPTO: DOT), and The Sandbox (CRYPTO: SAND) saw declines of 9.9%, 11%, and 8.7%, respectively, over the past 24 hours.
These major altcoins were among the biggest losers in today's cryptocurrency sell-off, with investors appearing to continue to rotate out of higher-risk assets and into safe havens today.
One notable catalyst for this rather steep sector-wide decline were liquidations seen among crypto traders. Spot price declines among major cryptocurrencies including Solana, Polkadot, and The Sandbox have forced leveraged traders to liquidate positions, further accelerating today's decline. Solana, Polkadot, and The Sandbox saw a respective $9.1 million, $5.8 million, and $6.1 million in liquidations over the past 24 hours alone.
Source Fool.com
