Ether, Dogecoin Lead $1.5B Liquidation Wipeout as Bitcoin Slips Below $112K

Crypto traders saw more than $1.5 billion in bullish wagers liquidated on Monday, triggering a sharp sell-off that hit smaller tokens hardest. Ether, the second-largest token, slumped as much as 9% to $4,075 as nearly half a billion dollars of leveraged long positions were liquidated, according to data from Coinglass. It was recently 6% lower over 24 hours. Bitcoin, the largest token, declined almost 3% to $111,998 before recovering slightly. Dogecoin (DOGE) slumped more than 10% to lead losses among major tokens, with Solana's SOL, Cardano's ADA, BNB Chain's BNB and Tron's TRX showing losses of at least 5% in the last 24 hours. More than 407,000 traders were liquidated over a 24-hour period, Coinglass data show, the highest such losses in recent months. Liquidations occur when leveraged p