In the past 24 hours, approximately $151.82 million (about 221.7 billion won) worth of leveraged positions were liquidated in the cryptocurrency market.
According to the currently compiled data, long positions were overwhelmingly dominant among the liquidated positions, with most exchanges showing over 80% long position liquidation rates.
Bybit had the most position liquidations in the past 4 hours, with a total of $21.90 million (34.52% of the total) liquidated. Among this, long positions accounted for $18.04 million, or 82.38%.
Binance was the second-highest exchange with liquidations, with $16.75 million (26.41%) of positions liquidated, of which long positions were $12.99 million (77.56%).
Gate saw $8.89 million (14.01%) in liquidations, with a very high long position ratio of 90.18%. OKX experienced $6.50 million (10.24%) in liquidations, with a long position ratio reaching 95.06%.
Particularly, Hyperliquid saw $4.62 million in liquidations, with almost 100% being long position liquidations, and BitMEX also showed only long position liquidations.
By coin, Bitcoin (BTC) had the most liquidated positions. Approximately $72.83 million in Bitcoin positions were liquidated in 24 hours, with $15.57 million in long positions and $1.11 million in short positions liquidated in 4 hours.
Ethereum (ETH) had about $46 million in positions liquidated in 24 hours, with $10.34 million in long positions and $1.28 million in short positions liquidated in 4 hours.
Solana (SOL) had approximately $15.60 million liquidated in 24 hours, and experienced $3.67 million in long position liquidations in 4 hours, alongside a recent 6.54% price drop.
Among other major altcoins, XRP ($8.51 million) and Dogecoin ($5.24 million) saw significant liquidations.
Notably, the WIF Token showed a large price drop of 9.21% with substantial liquidations, and meme tokens like PEPE and 1000PEI also experienced significant long position liquidations with price drops of 6.41% and 6.38% respectively.
Additionally, the FARTCO Token saw $627,000 in long position liquidations over 4 hours with an 8.55% price drop, and the HYPE Token also experienced substantial liquidations with an 8.56% price decline.
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 investors who held long positions have been significantly impacted by the recent cryptocurrency market downturn.
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