Over the past 24 hours, approximately $672.67 million (about 98 billion won) worth of leveraged positions were liquidated in the cryptocurrency market.
According to the currently compiled data, long positions accounted for $558.26 million, representing 83% of the total liquidations, while short positions were $114.41 million, accounting for 17%.
Binance experienced the most position liquidations over the past 4 hours, with a total of $6.71 million (39.95%) liquidated. Among these, long positions accounted for $4.68 million, or 69.81%.
Bybit was the second-highest exchange for liquidations, with $4.95 million (29.49%) of positions liquidated, of which long positions comprised $3.53 million (71.31%).
OKX saw approximately $2.41 million (14.34%) in liquidations, with long positions at 69.11%.
Notably, Hyperliquid experienced $1.09 million in liquidations, all of which were short positions, marking a 100% short liquidation.
Ethereum (ETH) had the most liquidated positions. Over 24 hours, approximately $332.60 million in Ethereum positions were liquidated, with about $2.85 million in long positions and $2.99 million in short positions liquidated over 4 hours. Ethereum is currently trading at $4,636, down 1.50% in the past 24 hours.
Bitcoin (BTC) saw approximately $153.37 million in positions liquidated over 24 hours, currently trading at $11,859 and down 1.73% in the past 24 hours. Over 4 hours, about $428,000 in long positions and $25,000 in short positions were liquidated.
Solana (SOL) had approximately $58.68 million liquidated over 24 hours, currently trading at $194.77 and down 3.96%. Among other major altcoins, XRP ($51.40 million) and Doge ($28.76 million) saw significant liquidations.
Specifically, XRP is trading at $3.1073, down 3.22% in 24 hours, while Doge is trading at $0.23062, down 3.25%.
Among coins with large liquidations, PEPE dropped 6.13% with approximately $3.35 million in positions liquidated over 24 hours, and LINK dropped 4.95% with about $9.58 million in positions liquidated.
Notably, FARTCO Token dropped 5.73% with approximately $9.06 million in positions liquidated over 24 hours, and LTC (Litecoin) dropped 5.46% with about $5.29 million in liquidations.
In the cryptocurrency market, 'liquidation' refers to the forced closure of a leveraged position when a trader fails to meet margin requirements. This large-scale liquidation indicates increased market volatility alongside a general price decline in major cryptocurrencies.
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