In the cryptocurrency market over the past 24 hours, approximately $353.82 million (about 516.4 billion won) worth of leveraged positions were liquidated.
According to the currently compiled data, short positions accounted for $336.87 million, representing 95.21% of the total liquidations, while long positions were $16.95 million, accounting for 4.79%.
Bybit had the most position liquidations over the past 4 hours, with a total of $93.54 million (26.44%) liquidated. Of this, short positions accounted for $88.74 million, or 94.87%.
HTX was the second-highest exchange with liquidations, with $82.90 million (23.43%) of positions liquidated, of which short positions were $81.60 million (98.43%).
Binance saw approximately $70.61 million (19.96%) in liquidations, with short positions at 92.02%.
Notably, Hyperliquid showed an overwhelmingly high short position liquidation rate of 99.57%.
By coin, Bitcoin (BTC) had the most liquidated positions. Approximately $226.42 million in Bitcoin positions were liquidated over 24 hours, with $197.42 million in short positions liquidated over 4 hours. Bitcoin is currently trading at $110,631, up 1.89% in the past 24 hours.
Ethereum (ETH) saw about $143.53 million in positions liquidated over 24 hours, with $95.72 million in short positions liquidated over 4 hours. Ethereum is trading at $2,735.23, up 5.31% in the past 24 hours.
Solana (SOL) had approximately $10.57 million liquidated over 24 hours, followed by XRP ($12.16 million) and ADA ($4.04 million) among other major altcoins.
Dogecoin (DOGE) saw total liquidations of $6.43 million over 24 hours, with a 6.71% price increase, including $3.90 million in short positions liquidated over the past 4 hours.
Liquidations from meme coins were also notable. 1000PEI and PEPE each rose 8.08%, recording $5 million and $2.28 million in liquidations, while WIF rose 8.62% with $2.16 million in liquidations.
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 short position liquidation shows that traders with short positions have suffered significant losses due to the recent strong upward trend in the cryptocurrency market.
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