In the cryptocurrency market over the past 24 hours, approximately $326.7 million (about 47.7 billion won) worth of leveraged positions were liquidated.
According to the currently aggregated data, the form of liquidated positions is noteworthy, with short position liquidations being particularly prominent this time.
Over the past 4 hours, Binance had the most position liquidations, with a total of $11.7 million (35.76% of the total) liquidated. Notably, short positions accounted for $8.93 million, or 76.29% of this amount.
Bybit was the second-highest exchange for liquidations, with $9.52 million (29.10%) of positions liquidated, of which short positions comprised $8.49 million (89.13%).
Gate.io saw approximately $4.73 million (14.45%) in liquidations, with a very high short position ratio of 89.29%. OKX also experienced $4.03 million (12.32%) in liquidations, with a short position ratio of 83.27%.
Notably, Hyperliquid had an overwhelmingly high short position liquidation rate of 99.55%, and on BitMEX, all liquidated positions were short positions.
By coin, Ethereum (ETH) had the most liquidations, with approximately $35.6 million in positions liquidated over 24 hours. On a 4-hour basis, $12.22 million in short positions were liquidated, with the price at $2,598, up 2.57% over 24 hours.
Bitcoin (BTC) had approximately $25.96 million in positions liquidated over 24 hours, with up to $5.28 million in short position liquidations over 4 hours. The current Bitcoin price is $108,578, up 0.71% over 24 hours.
Solana (SOL) had about $4.09 million liquidated over 24 hours, and among other major altcoins, XRP ($3.3 million) and MAGIC ($3.47 million) saw significant liquidations.
Dogecoin (DOGE) saw approximately $2.11 million in liquidations over 24 hours, with a 1.84% price increase, and long and short positions were liquidated at similar rates.
In the meme coin category, FARTCO experienced $2.26 million in liquidations over 24 hours despite a 2.87% price drop, and PEPE, 1000BOI, and 1000PEI also saw substantial liquidations.
This large-scale short position liquidation suggests that the cryptocurrency market is currently showing an overall upward momentum. Particularly, the prominent short position liquidations in Ethereum and Bitcoin indicate that market participants may not have fully predicted the recent upward trend.
For real-time news...Go to TokenPost Telegram
<Copyright ⓒ TokenPost, Unauthorized Reproduction and Redistribution Prohibited>
