Altcoins
Over $370,000,000 in Bitcoin, Ethereum and Altcoins Liquidated in 24 Hours as BTC Briefly Dips Below $57,000
Options Traders Suffer Hundreds of Millions of Dollar Losses Due to Bitcoin (Bitcoin) suddenly drops below $57,000 and altcoins crash.
According to crypto data aggregator Coinglass, over $379 million in liquidations have been occurred over the past 24 hours — nearly 90% of them came from leveraged long positions.
Binance, the world’s largest cryptocurrency exchange by volume, saw the highest number of liquidations at $181.38 million, followed by $101.07 million on OKX, $47.06 million on Huobi, and $37.72 million on Bybit.
Coinglass reveals that over the past day, $115.59 million worth of Bitcoin has been liquidated, with the vast majority of these being long positions. Coinglass also notes that $100.76 million worth of leading smart contract platform Ethereum (ETH) was liquidated during the same period.
Other major digital assets that saw significant liquidations included ETH rival Solana (GROUND) at $17.87 million, meme asset Dogecoin (DOGE) at $6.7 million, layer 1 blockchain Toncoin (TONNE) at $5.37 million, the artificial intelligence-driven Worldcoin project (WLD) at $4.6 million, and BNB at $4.15 million.
Over the past 24 hours, 131,492 traders have been liquidated, according to Coinglass. The largest liquidation order took place on Binance in the ETH/USDT pair for $18.48 million.
Over the past 24 hours, Bitcoin has fallen from a high of $60,584 to a low of $56,836. The leading crypto asset by market cap is trading at $57,369 at the time of writing, down nearly 5% over the past day, while Ethereum is trading at $3,121.
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Featured image: Shutterstock/wacomka