ETH Price Crash Sparks DeFi Liquidation Frenzy: $959M Wiped Out in 24 Hours

In late May 2026, the crypto market experienced significant volatility, functioning as a real-world stress test. Over a 24-hour period, nearly $959 million in leveraged crypto positions were closed by exchanges – known as liquidations – with about $897 million of those being bets that the price of Ether would increase (known as ‘longs’). This happened when Ether’s price briefly dropped below $2,000, coinciding with a record $32.6 billion in open Ether futures contracts. A week prior, the market had already absorbed around $563 million in liquidations in a single day, with roughly $244 million related to Ether longs.

The RWA Altcoin Gold Rush: Which Tokens Are About to Skyrocket Right Now!

As an analyst, I’ve been mapping out the key tokens connected to Real World Assets (RWAs). My research focuses on understanding what sets these tokens apart and, importantly, where we might see capital move as institutions start bringing things like money market funds, government bonds, and credit onto public blockchains. I’m essentially trying to predict where the value will flow in this evolving space.

PENGU/USD

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Brad Garlinghouse, CEO of Ripple, recently shared positive news on X (formerly Twitter) about the crypto industry. He believes recent legal rulings and election results are turning the tide in favor of digital assets. Garlinghouse stated that those who strongly opposed crypto – what he called the ‘Anti-Crypto Army’ – have been overcome by both court decisions and voters. He also argued that the strong regulatory resistance to crypto never made sense, suggesting it primarily served to protect outdated and flawed financial systems.

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Bitcoin, once among the world’s most valuable assets, has fallen to 13th place in global rankings. It now ranks behind traditional investments like gold, plus companies such as NVIDIA, Apple, and Microsoft, and even silver.