The high volatilities and ensuing market dip that rocked the global cryptocurrency industry in the past days have resulted in the liquidation of 260,608 traders. According to data from bybt, the total liquidations comes in at $1.17 billion, with Bitcoin liquidations taking the lead.
Based on the current erratic market dynamics, the liquidations cuts across traders that opened both long and short positions. Per the bybt data, over $739 million long positions were liquidated against $348 million for shorts positions. The imbalance is indicative of the unprecedented fall in price as traders anticipated a rebound from current levels.
Liquidations Per Assets and Exchanges
The liquidations affected the major cryptocurrencies, as well as the top trading platforms serving traders in the ecosystem. Bitcoin ranks as the most impacted, with approximately 19.25k BTC, totaling $631.93 million liquidated in the past 24 hours. Next is Ethereum, recording 103.94k Ether liquidations amounting to $199.98 million in total. Other digital assets including XRP, Dogecoin, EOS, and Polkadot also recorded $70.95 million, $67.73 million, $16.51 million, and $15.04 million liquidations respectively.
Per the exchanges, bybt saw the most liquidations with figures coming in at $427.22 million in the past 24 hours. Huobi Global and Okex also rank in the top three with total liquidations worth $215.39 million, and $205 million respectively. While the total liquidations are reflective of the current state of the market, the figures are more modest when compared with the two greatest liquidations since March.
On April 17th, a total of $9.26 billion long positions were liquidated against $886.65 million shorts positions. This precedes the $7.56 billion longs positions liquidated back on May 18th. These two periods align with the timing in which Bitcoin and Ethereum attained their All-Time High (ATH) prices respectively.
From the trends shown, the more uncertainty rocks the market, the bigger the level of liquidations. Bitcoins latest recovery after dipping to its lowest point in a month as it slipped below $30,000 resulted in liquidations worth over $48.12 million in the past 4 hours, as the bybt data showed.
- Do Kwon Says Terra Collecting Snapshot Data For LUNA Airdrop
- Top ETH Whales Add These DeFi Tokens Amid Crypto Volatility
- Here’s Why Bitcoin (BTC) Could Be In for Another 50% Correction Under $15,000
- Another Top Exchange To Delist Terra UST Over Collapse
- Just-In: Vitalik Buterin No Longer A Billionaire As Ethereum Crashes
- Bitcoin Price: Key Metrics Show Surprising Insights
- After Terra Crash, Galaxy Digital CEO Warns Against Bottom Buying
- Shiba Inu (SHIB) Prices May Jump Next Week; Here’s Why
- Is Andre Cronje Back On Fantom? FTM Jumps 13%
- PlanB Says Bear Market Almost Over, Bitcoin (BTC) In Buying Range
- Zilliqa Price Analysis: Channel Breakout Hints ZIL Price to hit $0.1
- Bitcoin Price Analysis: Trapped Bullish Momentum Need Triangle Breakout
- FTM Price Analysis: Buyers Tease Breakout From Long-Coming Trendline
- GALA Price Analysis: High Momentum Fallout Warns $0.075 Fallout
- Solana Price Prediction 2022: Bulls to drive SOL Price to new Highs?
- Theta Price Prediction 2022 : Analysts Insights into the crucial Reversal levels
- Sandbox Price Prediction 2022 : Analysts Show Optimism Towards The Metaverse SAND Token
- Apecoin Price Prediction 2022 : The future of Web3 and NFTs ?
- Ethereum Classic Price Prediction 2022 : Here’s What to Expect from ETC Price ?
- SAND Price Analysis: SAND Buyers Await Trendline Breakout To Go Long