Ethereum’s liquidations have surpassed Bitcoin’s for the second time in a week, with $64.75 million in liquidations compared to Bitcoin’s $46.74 million. The total global crypto market capitalization dropped from $2.53 trillion to $2.46 trillion over the past day, leading to a correction in the market. This is a trend that has been seen before on May 1, when Ethereum had $91.76 million in liquidations compared to Bitcoin’s $68.51 million. The total crypto open interest also decreased by 2.12%, sitting at $57.17 billion. Both Bitcoin and Ethereum prices have seen declines in the past 24 hours, with Bitcoin trading at $64,200 and Ethereum at $3,110. Lower price volatility is expected for leading digital assets with the decrease in global cryptocurrency open interest.
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