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Peter Brandt2025-10-12 03:06:48
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The Kobeissi Letter2025-10-12 00:59:00
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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