The cryptocurrency market has faced significant volatility due to massive liquidations, totaling $1.28 billion in the last 24 hours. The majority of the impact affected short positions.
Amount of Liquidations in Crypto Market
The crypto market has recorded liquidations amounting to $1.28 billion. Out of this total, only $146 million was attributed to long positions, while short positions accounted for a substantial $1.13 billion. This reflects significant price increases in major cryptocurrencies like Bitcoin and Ethereum.
Leaders in Liquidations Among Exchanges
Among the major cryptocurrency exchanges that saw the highest liquidations, Bybit, Binance, and HTX topped the list. Specifically, Bybit led with a loss of $526.8 million, with shorts making up $485.4 million. Binance followed with losses of $233.4 million, including $174.4 million in shorts.
Crypto Assets with Maximum Liquidations
Data shows that Bitcoin faced the largest liquidations, summing up to $677.6 million, while Ethereum saw $258.7 million. Other affected assets included Hyperliquid, Solana, and Banana, with liquidations of $43.6 million, $24.6 million, and $21 million respectively.
Recent developments in the cryptocurrency market underscore the risks associated with trading, particularly for traders involved in short positions. The situation calls for ongoing monitoring to understand its long-term market implications.
