In the past 24 hours, approximately $480 million worth of leveraged positions were liquidated in the cryptocurrency market.
According to the current aggregated data, long positions were overwhelmingly dominant among the liquidated positions, reflecting the recent overall market downturn.
Binance experienced the most position liquidations in the past 4 hours, with a total of $9.75 million (39.19% of the total) liquidated. Among these, long positions accounted for $5.47 million, representing 56.06%.
ByBit was the second-highest exchange with liquidations, with $5.71 million (22.94%) of positions liquidated, of which short positions totaled $3.31 million, accounting for 57.98% and being more liquidated than long positions.
OKX saw approximately $5.34 million (21.47%) in liquidations, with a particularly high short position liquidation rate of 83.54%.
Notably, most major exchanges showed high short position liquidation rates, suggesting a temporary rebound. BitMEX, while having a smaller liquidation scale, showed 99.15% of liquidations in long positions.
By coin, Bitcoin (BTC) had the most liquidated positions. Approximately $219.57 million in Bitcoin positions were liquidated in 24 hours, with long positions accounting for $205.52 million. Bitcoin is currently trading at $104,540.7, down 1.50% in 24 hours.
Ethereum (ETH) saw about $117.76 million in positions liquidated in 24 hours, with long positions accounting for $98.61 million. Ethereum is currently trading at $2,575.5, down 2.55% in 24 hours.
Solana (SOL) dropped 4.44% with approximately $33.90 million liquidated in 24 hours, followed by other major altcoins such as XRP ($30.46 million) and Doge ($25.73 million).
Notably, Doge saw a significant price drop (-8.39%) with $25.73 million in liquidations in 24 hours, mostly in long positions ($24.62 million).
FARTCO and ENA Tokens were notable, showing sharp price drops of -13.53% and -15.20% respectively. FARTCO saw approximately $8.17 million in liquidations in 24 hours, while ENA had $6.79 million.
The Trump-related token TRUMP also experienced a price drop of -6.24% with about $5.46 million in liquidations in 24 hours.
This large-scale liquidation occurred alongside the overall cryptocurrency market downturn, particularly with major altcoins showing steeper declines than Bitcoin, suggesting a strengthening risk-averse sentiment among investors.
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