In the past 24 hours, approximately $246.19 million (about 339.6 billion won) worth of leverage positions were liquidated in the cryptocurrency market.
According to the currently compiled data, short positions accounted for $215.64 million, representing 87.6% of the total liquidations, while long positions were $30.55 million, accounting for 12.4%.
Binance experienced the most position liquidations in the past 4 hours, with a total of $54.43 million (40.43%) liquidated. Among this, short positions accounted for $48.64 million, or 89.37%.
ByBit was the second-highest exchange for liquidations, with $33.49 million (24.88%) of positions liquidated, of which short positions were $25.77 million (76.94%).
Gate.io and OKX saw liquidations of $16.05 million (11.92%) and $15.93 million (11.83%) respectively, with both exchanges showing over 85% short position liquidation rates.
Notably, BitMEX had 100% of its liquidated positions as short positions, with approximately $867,730 of short positions liquidated.
By coin, Ethereum (ETH) had the most liquidated positions. Approximately $145.02 million in Ethereum positions were liquidated in 24 hours, with $62.63 million in short positions and $12.92 million in long positions liquidated in 4 hours. Ethereum recorded an 8.26% price increase in 24 hours.
Bitcoin (BTC) had about $53.98 million in positions liquidated in 24 hours, with $20.04 million in short positions liquidated in 4 hours. Bitcoin showed a 1.86% price increase.
Solana (SOL) had approximately $19.18 million liquidated in 24 hours, with a 6.43% price increase and $9.78 million in short positions liquidated in 4 hours.
Notably, meme coins saw large-scale liquidations, with 1000PEPE Token experiencing $10.10 million in liquidations in 24 hours, and tokens like PEPE, FARTCO, and TRUMP also seeing significant liquidations. The TRUMP token, in particular, saw substantial long and short position liquidations alongside an 8% price increase.
The ENA Token recorded the highest price increase at 15.35%, triggering massive liquidations, while the MOODEN Token saw $13.91 million in liquidations in 24 hours, more than many major altcoins.
Overall, these liquidations occurred as the cryptocurrency market showed an upward trend, significantly impacting short position holders. The massive short position liquidations, particularly due to the rise of Ethereum and Bitcoin, were the most notable characteristics of this liquidation event.
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