Over the past 24 hours, approximately $334.51M (about 448 billion won) worth of leveraged positions were liquidated in the cryptocurrency market.
According to the currently compiled data, ETH-related positions were the highest at $163.14M, followed by BTC-related positions at $112.44M.
Over the past 4 hours, Bybit had the most position liquidations, with a total of $18.55M (34.12% of the total) liquidated. Among these, long positions accounted for $9.31M at 50.19%, and short positions accounted for $9.24M at 49.81%.
Binance was the second-highest exchange with liquidations, with $15.49M (28.48%) of positions liquidated, of which short positions at $8.05M (51.97%) were higher than long positions.
OKX saw approximately $10.49M (19.29%) in liquidations, with short position liquidation rates at 53.92%, higher than long positions.
Notably, most major exchanges showed relatively equal liquidation rates between long and short positions, with Binance and OKX having particularly higher short position liquidation rates.
Looking at individual coins, Ethereum (ETH) recorded the most liquidations. Over 24 hours, approximately $163.14M was liquidated from Ethereum positions, with $11.63M from long positions and $9.20M from short positions over 4 hours. ETH saw a price drop of -5.90% over 24 hours.
Bitcoin (BTC) had about $112.44M of positions liquidated over 24 hours, with $6.88M from long positions and $8.64M from short positions over 4 hours. BTC experienced a price drop of -4.08%.
Solana (SOL) had approximately $26.64M liquidated over 24 hours, followed by XRP ($16.45M) and DOGE ($13.26M) among other major altcoins.
Notably, the HYPE Token was included in the top 5 liquidated coins with a significant price drop of -10.47%, and the meme coin FARTCO saw substantial liquidations ($4.10M in long positions, $1.74M in short positions) with a sharp price decline of -12.42%.
Meme coins like PEPE and 1000PEI also experienced significant liquidations with price drops of -10.57%. Particularly, 1000PEI saw $871.72K in short position liquidations over 4 hours.
The TRUMP Token saw $2.47M in long positions and $131.84K in short positions liquidated over 24 hours, with a price drop of -5.69%.
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 volatility in the recent cryptocurrency market, with Ethereum experiencing more liquidations than Bitcoin, reflecting recent market changes.
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