Ether Futures Lead $1.2B in Liquidations, Crypto Market Cap Drops 16% Overnight

Losses exceeded $1.2 billion in the past 24 hours, the highest so far this year. They came as major cryptocurrencies saw steep drops: Bitcoin ( $75,416.00 ) fell 11%, BNB ( $688.40 ) Chain’s BNB ( $688.40 ) lost 26%, and Solana’s SOL lost 37%. Terra’s LUNA fell out of the top ten cryptos by market capitalization to the 81st rank – it fell 96% in the past 24 hours to under 40 cents.