In the cryptocurrency market over the past 24 hours, approximately $418 million (about 610.1 billion won) worth of leverage positions were liquidated.
According to the currently compiled data, long positions accounted for about $370 million, representing 88.5% of the total liquidations, while short positions were around $48 million, accounting for 11.5%.
Over the past 4 hours, Bybit had the most position liquidations, with a total of $75.19 million (37.75% of the total) liquidated. Among these, long positions accounted for $71.70 million, or 95.35%.
Binance was the second-highest in liquidations, with approximately $69.68 million (34.98%) of positions liquidated, of which long positions made up $61.58 million (88.38%).
OKX saw about $22.06 million (11.07%) in liquidations, with long positions at 91.8%. Gate experienced $20.69 million (10.39%) in liquidations, with long positions at 92.94%.
By coin, Ethereum (ETH) showed the highest liquidation volume. Approximately $136.61 million in Ethereum positions were liquidated over 24 hours, with about $35.45 million liquidated in the past 4 hours. The current Ethereum price is $3,570.86, down 3.70% in 24 hours.
Bitcoin (BTC) had about $58.63 million in positions liquidated over 24 hours, with approximately $15.90 million liquidated in the past 4 hours. Bitcoin's price is currently $117,900.7, down 1.57% in 24 hours.
XRP saw about $80.14 million in liquidations over 24 hours, more than Bitcoin, with its price plummeting 10.73%. About $30.60 million in positions were liquidated in the past 4 hours.
Solana (SOL) had approximately $41.04 million liquidated over 24 hours, with its price falling 6.90% to $187.02.
Dogecoin (DOGE) also experienced about $35.65 million in liquidations over 24 hours, accompanied by a 9.39% price drop, with approximately $10.90 million liquidated in the past 4 hours.
Notably, ADA (Cardano) and SUI Token showed significant liquidations with substantial price drops of 9.50% and 7.59%, respectively. Meme coins PEPE and 1000PEI also underwent large-scale liquidations with price drops of 9.07% and 9.06%.
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 demonstrates that many long position investors were impacted by the recent overall decline in the cryptocurrency market. Particularly notable is the more significant liquidation in the altcoin market, centered around Ethereum and XRP.
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