In the past 24 hours, approximately $340 million (about 496 billion won) worth of leverage positions were liquidated in the cryptocurrency market.
According to the currently compiled data, Bitcoin and Ethereum recorded the highest liquidations at $153.59 million and $151.04 million respectively, accounting for about 90% of the total liquidations.
Binance experienced the most position liquidations in the past 4 hours, with a total of $6.04 million liquidated (54.15% of the total). Among these, long positions accounted for $3.17 million, or 52.4%.
Bybit was the second-highest exchange with $2.80 million (25.09%) of positions liquidated, with short positions at $1.48 million (52.93%), which was higher than long positions.
OKX saw approximately $918,750 (8.23%) in liquidations, with long positions at 60.18%, indicating a long-side dominance.
Notably, HTX exchange showed a very high short position liquidation rate of 66.16%, while BitMEX exhibited a unique pattern of 100% long position liquidations.
By coin, Bitcoin (BTC) recorded the highest liquidation volume. Approximately $153.59 million in Bitcoin positions were liquidated in 24 hours, with about $29.78 million liquidated in 4 hours. Bitcoin is currently trading at $104,850, up 3.69% in the past 24 hours.
Ethereum (ETH) saw about $151.04 million in positions liquidated in 24 hours, with approximately $40.56 million liquidated in 4 hours. Ethereum is currently trading at $2,403, up 7.64% in the past 24 hours.
Solana (SOL) had about $28.21 million liquidated in 24 hours, showing a strong upward trend among major altcoins with a 7.69% price increase.
Dogecoin (Doge) experienced $4.66 million in liquidations with a 6.85% price increase.
Notably, SUI saw a significant 12.31% increase along with $4.50 million in liquidations, and meme coins like PEPE and 1000PEI also experienced substantial liquidations with strong upward movements of 12.08% and 12.10% respectively.
FARTCO Token is drawing attention with $3.90 million in liquidations over 24 hours, despite a 11.09% price increase.
In the cryptocurrency market, 'liquidation' refers to the forced closure of a leverage position when a trader fails to meet margin requirements. The large-scale liquidation of short positions during this market rise suggests a stronger upward momentum than expected.
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