In the past 24 hours, approximately $237.74 million (about 31.7 billion won) worth of leveraged positions were liquidated in the cryptocurrency market.
According to the currently compiled data, long positions accounted for $237.74 million, representing 93.44% of the total liquidations, while short positions were $8.11 million, accounting for 6.56%.
Bybit had the most position liquidations in the past 4 hours, with a total of $42.98 million (34.73%) liquidated. Among these, long positions accounted for $41.32 million, or 96.14%.
Binance was the second-highest exchange with liquidations, with $42.41 million (34.28%) of positions liquidated, of which long positions were $38.79 million (91.45%).
OKX saw approximately $16.09 million (13%) in liquidations, with long positions at 87.7%.
Notably, on Hyperliquid, the long position liquidation rate was 99.93%, with almost all liquidations occurring in long positions, while on BitMEX, the long position liquidation rate was relatively lower at 70.28%.
By coin, Ethereum (ETH) had the most liquidated positions. In 24 hours, approximately $135.02 million in Ethereum positions were liquidated, with $25.79 million in long positions and $2.31 million in short positions liquidated in 4 hours.
Bitcoin (BTC) had about $47.86 million in positions liquidated in 24 hours, with $16.83 million in long positions and $1.79 million in short positions liquidated in 4 hours.
Solana (SOL) saw approximately $23.88 million liquidated in 24 hours, followed by XRP ($20.13 million) and Doge ($14.40 million) among other major altcoins.
Notably, the FARTCO Token experienced a significant price drop of -11.97%, with $10.12 million in long positions liquidated in 4 hours and a total of $12.02 million liquidated in 24 hours.
The SUI Token also saw a price drop of -8.77%, with $3.63 million in long positions liquidated in 4 hours and $9.66 million liquidated in 24 hours.
The 1000PEI Token experienced a -4.93% price drop, with $2.54 million in long positions liquidated in 4 hours and a total of $5.07 million liquidated in 24 hours.
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 can be seen as an indicator that many long position investors incurred losses during the market correction.
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