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>>Solana maintained its 100,000 transactions per second processing speed despite a massive $19 billion in liquidations.

Solana maintained its 100,000 transactions per second processing speed despite a massive $19 billion in liquidations.

crypthub

1 day ago

Market Liquidation Event

Global cryptocurrency markets experienced a significant liquidation event, resulting in over $19 billion wiped out from leveraged positions. Data reveals that more than 1.6 million traders were forced to exit their positions. The initial catalyst was a tariff proposal by Donald Trump, causing a broad sell-off across markets.

Centralized Exchange Dynamics

The sudden crash was fueled by how centralized exchanges manage margin trading practices. As collateralized altcoins declined in value, exchanges automatically liquidated positions to cover losses. Limited liquidity within altcoins amplified this cascade effect, triggering further selling.

Solana's Performance and Resilience

Solana experienced a notable price drop, but its network demonstrated surprising resilience. The blockchain processed over 100,000 transactions per second during an intense stress test. Solana’s validator client handled significantly increased traffic without performance degradation.

Future Outlook and ETF Possibilities

Optimism persists for Solana's long-term prospects, driven by potential regulatory approvals. Several Solana-related ETFs are already live, signaling increased interest and potential institutional investment. This development could support a market recovery.