Ether futures led $1.2 billion in liquidation, crypto market cap fell 16% overnight

Losses in the last 24 hours have crossed $1.2 billion, the highest so far this year. Bitcoin is down 11%, BNB on the BNB chain is down 26%, and Solana’s SOL is down 37%. Terra’s LUNA dropped to 81st in the top 10 cryptocurrencies by market cap. It has fallen 96% in the last 24 hours to less than 40 cents.

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