Morning Crypto Report: $74.68 Million Xrp Bull Makes Brutal Mistake, Bitcoin Briefly Hits $0 On Decentralized Exchange, Shiba Inu (Shib) Delivers 5,407,865% Liquidation Shock: What Happened?

A major XRP trader incurred a $14 million loss after betting $74.68 million on a long position using 10x leverage, just as the token hit a local peak at $2.292. With XRP dropping to $1.9303, the trader's position now represents nearly 73% of the total daily drawdown in long positions on Hyperliquid.

Meanwhile, Bitcoin briefly showed a $0 price due to a backend glitch on the Paradex decentralized futures platform, impacting thousands of traders. Although services were restored after seven hours and a rollback protected spot balances, leveraged losses remained final.

In another extreme event, Shiba Inu (SHIB) futures experienced a 5,407,865% liquidation imbalance over four hours, with $48,126.83 in long positions wiped out against just $0.89 in shorts. The move followed a sharp drop below key support, triggering widespread margin stops.