Over $1 billion in cryptocurrency was liquidated within an hour, significantly impacting major altcoins such as XRP, which saw a decline of over 4%. This market turbulence coincided with the launch of mXRP, a new liquid staking solution for the XRP Ledger. The mXRP token offers up to 8% annual percentage yield (APY) for holders in Europe and Asia. Midas CEO Dennis Dinkelmeyer highlighted the strong community demand for integrating XRP into decentralized finance (DeFi) strategies, with mXRP designed to activate dormant XRP for broader DeFi applications.
Over $1 Billion in Crypto Liquidations as mXRP Launches
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