Crypto Market Wiped Out $108 Billion in Six Minutes

The cryptocurrency market suffered its largest flash crash since October 2025 on August 22, wiping out $108 billion in just six minutes.

The total market value plummeted from $2.68 trillion to $2.55 trillion as selling pressure increased, with more than $1.71 billion in crypto positions being liquidated.

CryptoRank reported that the market saw a massive wave of long position liquidations, with $574 million wiped out in just four hours as Bitcoin and other cryptocurrencies dropped sharply.