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- Peter Brandt
Oct 12, 2025 at 03:06 am
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- The Kobeissi Letter
Oct 12, 2025 at 12:59 am
This was an unprecedented liquidation event: Amid the crypto crash yesterday, $XRP erased a whopping -50% of its market cap in 30 MINUTES. At 4:50 PM ET, $XRP was worth $161 billion. By 5:20 PM ET, $XRP was worth $80 billion. What happened to XRP?It's official: Crypto just saw its LARGEST liquidation event in history with 1.6 MILLION traders liquidated. Over $19 BILLION worth of leveraged crypto positions were liquidated in 24 hours, 9 TIMES the previous record. Why did this happen? Let us explain. (a thread)
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ARRR
$0.4056
29.90%
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PTB
$0.05926
24.09%
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BMX
$0.4401
22.56%
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ZEC
$275.70
20.85%
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KEEP
$0.08181
18.40%
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BANK
$0.1386
13.25%