The crypto landscape has experienced massive liquidations over the past twenty-four hours. As per the exclusive data from CoinGlass, the market has witnessed a staggering $375M in total liquidations in the meantime. The well-known crypto data platform has also pointed out that up to 110,796 traders have been impacted by these huge liquidations. Thus, this notable downtrend indicates the crypto market’s inherent volatility, with several traders getting off guard.
Ethereum and Bitcoin Lead Crypto Liquidation Heatmap
CoinGlass’ data reveals that Ethereum ($ETH) stands atop the other crypto assets when it comes to liquidations. In this respect, the total liquidations in terms of $ETH have equaled $117.80M over twenty-four hours. Following that, the top 2nd position has been occupied by the flagship crypto asset, Bitcoin ($BTC). It has recorded $62.30M in total liquidations during the same period.
Apart from that, Ripple ($XRP) stands in the 3rd place on the liquidation heatmap. In particular, it accounts for $39.71M in liquidations. Subsequently, Solana ($SOL) has also taken a notable status among the major crypto assets, witnessing enormous liquidations. Hence, it saw $19.62M in its 24-hour liquidations. However, similar to these key crypto assets, several others have also experienced this downturn.
Binance Records Major Single Liquidation in $ETH/$USDT
On the other hand, according to the data provided by CoinGlass, the long positions witnessed a substantial blow of $309.47M in liquidations. Nevertheless, the short positions account for $64.26M in liquidations. Similarly, the biggest single liquidation event took place on the popular crypto exchange Binance. It saw $2.60M liquidated in the $ETH/$USDT trading pair. Overall, these figures highlight the leveraged trading’s potential risks in the significantly unpredictable crypto landscape.
