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$369M crypto liquidation hits XRP, Ether, Solana amid SEC blockchain rule changes and market pressure

Market News
02 Sep 2026
UToday
View Source
Bearish
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On September 2, 2026, a $369 million long squeeze liquidated positions of over 90,000 crypto traders, impacting XRP, Ether, and Solana prices amid rising oil prices and Treasury yields. Bitcoin fell to around $77,200–$77,600, Ether to $2,410–$2,430, and Solana below $100, dragging the total crypto market cap down to $2.59–$2.70 trillion. The U.S. SEC proposed major blockchain transfer agent rule reforms ahead of Congress's Clarity Act, aiming to integrate blockchain with traditional finance and introduce 24/7 stock trading. Despite the sell-off, institutional inflows into Ethereum, Solana, and XRP ETFs remained positive, signaling ongoing long-term interest. The market now awaits U.S. unemployment data, which will influence asset performance in mid-September.

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