Over 135,000 Traders Liquidated Amidst Market Volatility and Exchange Losses
The cryptocurrency market witnessed significant liquidations across multiple exchanges in the past 24 hours, impacting traders globally.
Derar Hadri 
The cryptocurrency market witnessed significant liquidations across multiple exchanges in the past 24 hours, impacting traders globally. According to Phoenix data, Bitfinex recorded the highest liquidation volume at $144.68 million, followed by Bybit with $130.18 million and Binance with $94.77 million. Other exchanges also saw substantial liquidations, with OKX reaching $66.95 million, Gate.io processing $30.45 million, and HTX registering $22.33 million.
Short vs. Long Liquidations Across Exchanges
Different cryptocurrency exchanges displayed varying ratios of short- and long-term liquidations. On Bitfinex, short and long liquidations were nearly equal, whereas Binance and Bybit saw long liquidations dominating at 75.39% and 71.54%, respectively. Although CoinEx and BitMEX recorded relatively lower liquidation totals at $3.65 million and $1.99 million, they exhibited exceptionally high long positions, reaching 95.19% of total liquidations.
Most Liquidated Assets and Market Impact
Bitcoin ($BTC) led the liquidation activity, with $296.12 million in transactions, equivalent to 3.43K BTC. Ethereum ($ETH) followed, with $54.98 million worth of liquidations, translating to 25.39K ETH tokens. Ripple ($XRP) ranked third, witnessing $19.74 million in liquidations, involving 8.47 million tokens exchanged.
Other notable assets affected include:
- Solana ($SOL): $17.34 million liquidated
- Cardano ($ADA): $12.87 million liquidated
- Dogecoin ($DOGE): $6.47 million liquidated
Emerging tokens also suffered substantial losses:
- $ENA: $3.45 million liquidated
- $AUC: $2.45 million liquidated
- Trump’s Meme Coin: $2.71 million liquidated
- KAITO: $2.31 million liquidated
Largest Single Liquidation Order and Market Volatility
The largest liquidation order, valued at $17.15 million, took place on Bitfinex in the BTC/UST trading pair. The ongoing market volatility continues to trigger massive capital depletion, especially among large institutional traders facing forced liquidations.
In total, 135,560 traders were liquidated over this period, highlighting the importance of risk management strategies in navigating the cryptocurrency market’s extreme fluctuations.
