In the past 24 hours, approximately $290 million (about 42 billion won) worth of leverage positions were liquidated in the cryptocurrency market.
According to the currently aggregated data, long positions dominated the liquidations, with most exchanges showing long position liquidation rates exceeding 80%.
Binance experienced the most position liquidations in the past 4 hours, with a total of $10.6 million (36.52% of the total) liquidated. Among this, long positions accounted for $8.93 million, or 84.24%.
Bybit was the second-highest exchange for liquidations, with $86.5 million (29.8%) of positions liquidated, of which long positions comprised $80.3 million (92.84%).
OKX saw approximately $4.13 million (14.24%) in liquidations, with long positions at 90%.
Notably, CoinEx and BitMEX had long position liquidation rates of 99.63% and 100% respectively, indicating almost exclusively long position liquidations.
By coin, Ethereum (ETH) recorded the most liquidations. Approximately $111.45 million in Ethereum positions were liquidated in 24 hours, with $7.41 million in long positions and $1.70 million in short positions liquidated in 4 hours.
Bitcoin (BTC) had about $59.72 million in positions liquidated in 24 hours, with its current price at $107,310.7, showing a -1.84% decline. In 4 hours, $2.81 million in long positions were liquidated.
Solana (SOL) saw approximately $12.25 million liquidated in 24 hours, with its current price recording a -3.27% decline at $159.08.
Dogecoin (DOGE) experienced about $11.26 million in liquidations in 24 hours, showing a relatively large price drop of -6.01%. In 4 hours alone, approximately $1.26 million in long positions were liquidated.
LINK showed the largest price drop at -8.02%, with $1.18 million in long positions liquidated in 4 hours, and WIF also experienced significant liquidations with a -6.82% decline.
Meme coins like 1000PEI and PEPE also saw substantial liquidations with price drops of 3.27% and 3.23% respectively, with 1000PEI experiencing $4.29 million in long position liquidations in 24 hours.
In the cryptocurrency market, 'liquidation' refers to the forced closure of a leverage position when a trader fails to meet margin requirements. This large-scale liquidation can be seen as an indicator of increased volatility in the recent cryptocurrency market.
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