Ethereum (ETH) led the liquidation charts as more than $302.76 million (₱17.3 billion) was wiped out from the crypto market in the past 24 hours, with long positions bearing the brunt of the losses.
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Key Details:
- Total liquidations: $302.76 million liquidated across 127,615 traders.
- Largest single liquidation: Occurred on OKX for an ETH-USDT swap worth $3.95 million.
- Top Liquidated Assets:
- ETH: $60.01 million
- BTC: $11.83 million
- XRP: $6.40 million
- SOL: $4.32 million
- DOGE: $2.78 million
Longs Dominate Liquidations
- Long positions accounted for $242.16 million (80%) of the liquidations, compared to $60.61 million from short positions.
- In the past four hours alone, $132.43 million in longs were wiped out, with Bybit, Binance and Gate.io contributing the most.
Exchange Breakdown:
- Bybit: $53.15 million liquidations (98.04% long)
- Binance: $30.57 million liquidations (91.62% long)
- Gate.io: $24 million liquidations (94.95% long)
- HTX: $15.16 million liquidations (94.75% long)
- OKX: $13.57 million liquidations (91.36% long)
DeFi Liquidations Increase as ETH Drops Below $1,920
ETH’s price plunged by 5.20% to $1,916, which triggers liquidations across DeFi platforms. Collateral-backed loans on DeFi protocols are at heightened risk, with data from DefiLlama showing over $330 million in assets at risk of liquidation if ETH continues its downward trend.
Real-Time Liquidations:
Prominent altcoins also saw significant liquidations, including:
- DOGE-USDT: $3.82 million liquidated
- ADA-USDT: $1.49 million liquidated
- AVAX-USDT: $673.69K liquidated
This article is published on BitPinas: Quick Take: Ethereum Liquidations Lead as Longs Get Hit Hard in $302M Wipeout
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