Cosmos Sees 5.7% Decline Amid Global Market Volatility

A US tariff shock has caused significant volatility in the crypto market, leading to a decline in Cosmos' value by around 5.7%. The move is attributed to broader market pressures rather than any specific issue with the Cosmos protocol.

According to recent analytics, roughly $460-500 million of leveraged positions were liquidated over the last 24 hours, with over 90% being long positions. This led to a significant decrease in open interest and forced traders to unwind their leverage.