In the past 24 hours, approximately $64.03 million (about 9.36 billion won) worth of leverage positions were liquidated in the cryptocurrency market.
According to the currently compiled data, long positions accounted for most of the liquidated positions, with long position liquidation rates reaching 70-91% on major exchanges.
Binance experienced the highest position liquidations over the past 4 hours, with a total of $11.74 million (37.18% of the total) liquidated. Among this, long positions accounted for $9.28 million, or 79.03%.
ByBit was the second-highest exchange, with $9.81 million (31.09%) of positions liquidated, of which long positions comprised $8.98 million (91.55%).
OKX saw approximately $4.18 million (13.25%) in liquidations, with a long position ratio of 70.99%.
HTX and Gate recorded liquidations of $2.99 million (9.48%) and $2.70 million (8.54%) respectively, with both exchanges showing long position liquidation rates around 80%.
By coin, Bitcoin (BTC) and Ethereum (ETH) positions were liquidated the most. Approximately $24.70 million in Bitcoin positions were liquidated over 24 hours, with about $5.78 million liquidated in the 4-hour timeframe.
Ethereum (ETH) saw about $23.90 million in positions liquidated over 24 hours, with approximately $10.73 million liquidated in the 4-hour timeframe. Notably, Ethereum's liquidation scale exceeded Bitcoin's in the 4-hour timeframe.
Solana (SOL) had about $5.90 million liquidated over 24 hours, with approximately $2.75 million liquidated in the 4-hour timeframe.
Doge (DOGE) experienced about $4.81 million in liquidations over 24 hours, with approximately $1.58 million liquidated in the 4-hour timeframe. Notably, despite a slight price increase (+0.56%) in the past 24 hours, significant liquidations occurred.
Meanwhile, TRUMP, a token related to the US presidential election, showed significant movement. With a 4.24% price increase in the past 24 hours, about $930,000 in positions were liquidated. This demonstrates increasing volatility in election-related tokens as the US election approaches.
Notably, meme tokens such as 1000PEPE, Pepe, and FARTCOIN also saw prominent liquidations. Particularly, 1000PEPE recorded liquidations of approximately $3.95 million over 24 hours, rivaling major coin liquidation scales.
In the cryptocurrency market, 'liquidation' refers to the forced closure of a leverage position when a trader fails to meet margin requirements. This liquidation data reflects the market's short-term volatility and investors' high leverage usage, particularly showing a market sentiment skewed towards long positions.
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