In the past 24 hours, approximately $326.7 million worth of leveraged positions were liquidated across the cryptocurrency market, according to data. Long positions accounted for 87.5% of the total liquidations, while shorts represented just 12.5%, indicating that traders betting on price increases suffered the heaviest losses.
Exchange and Coin Breakdown
Binance saw the highest liquidation volume over the last four hours, with $11.24 million (44.46% of the total) being liquidated, of which $6.73 million (59.88%) were long positions. OKX followed with $4.4 million (17.39%), where longs made up $2.98 million (67.69%). Hyperliquid recorded about $2.29 million (9.06%) in liquidations, with longs at 63.68%.
Bitcoin (BTC) led by coin, with $169.63 million in liquidations, while Ethereum (ETH) saw $156.95 million. Solana (SOL) had $28.88 million liquidated, and HYPE saw $15.76 million. Other coins including XRP, DOGE, and TON also experienced significant liquidations.
Market Implications
Liquidation occurs when a trader's leveraged position is forcibly closed due to insufficient margin. The heavy concentration of long liquidations, especially on major exchanges like Binance and OKX, suggests a cooling-off of overheated leverage. Altcoins showed greater volatility than Bitcoin, underscoring the need for caution in highly leveraged trades.