Over the past 24 hours, approximately $410 million (about 598 billion won) worth of leverage positions were liquidated in the cryptocurrency market.
According to the currently compiled data, long positions overwhelmingly dominated the liquidated positions, accounting for about 87.5%, while short positions recorded about 12.5%.
Binance experienced the most position liquidations over the past 4 hours, with a total of $10.61 million liquidated (44.22% of the total). Among these, long positions accounted for $6.87 million, or 64.76%.
Bybit was the second-highest exchange for liquidations, with $6.79 million in positions liquidated (28.28%), of which long positions comprised $4.55 million (66.98%).
OKX saw approximately $3.62 million in liquidations (15.07%), with long positions at 57.66%.
Notably, HTX and BitMEX exchanges showed higher short position liquidation rates at 60.39% and 63.84%, respectively, compared to long positions.
By coin, Bitcoin (BTC) had the most liquidated positions. Approximately $147.7 million in Bitcoin positions were liquidated over 24 hours, with up to $8.13 million in long position liquidations over 4 hours. The current Bitcoin price is $103,372, down 2.35% over 24 hours.
Ethereum (ETH) saw about $123.11 million in positions liquidated over 24 hours, with $1.41 million in long positions and $2.01 million in short positions liquidated over 4 hours. Ethereum's price is $2,519, down 3.89% over 24 hours.
Solana (SOL) had approximately $36.78 million liquidated over 24 hours and showed a 6.27% price drop. Among other major altcoins, Doge experienced a sharp 8.76% price decline with $21.52 million in liquidations.
Of particular note are the large liquidations of some meme coins and new tokens. The '1000PEPE' token saw $15.04 million in liquidations over 24 hours with a 14% plunge, and 'PEPE' also dropped 13.96% with about $9.22 million liquidated.
Tokens like SUI (-9.89%), FARTCO (-8.61%), and ENA (-14.32%) also experienced significant liquidations alongside substantial price drops of around 10%.
The Trump-related token TRUMP also dropped 6.79%, with approximately $3.85 million liquidated over 24 hours.
This large-scale liquidation appears to be concentrated in the altcoin and new token markets during the recent cryptocurrency market adjustment. As market volatility increases, risk management for investors holding leverage positions has become increasingly important.
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