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Glassnode said leverage in the altcoin market remains elevated. The firm said prices have fallen since leverage peaked earlier this month, but more than 40% of large altcoins still show leverage near this year’s highs, while the share of mid-cap altcoins posting year-to-date peak leverage has reached a record level. Glassnode added that if the market downturn deepens further, a significant number of investors holding leveraged long positions could face liquidation risk.