According to crypto data aggregator Coinglass, over $448,490,000 in liquidations have occurred in the last 24 hours as Bitcoin (BTC) crashes – more than 84% from leveraged longs.
Leverage traders are seeing red after Bitcoin (BTC) suddenly plummeted below $58,000, dragging altcoins down with it.
According to crypto data aggregator Coinglass, over $448,490,000 in liquidations have occurred in the last 24 hours – more than 84% from leveraged longs.
Leading exchange OKX hosted the largest amount of liquidations at $171.28 million, followed by $170.43 million on Binance, the world’s top exchange, $45.09 million on Huobi and $37.22 million on Bybit.
Coinglass reveals that during the last day, $167.43 million worth of Bitcoin was liquidated, the overwhelming majority of them being long positions.
Coinglass also finds that $115.48 million worth of the leading smart contract platform Ethereum (ETH) has been liquidated during the same time frame.
See Also: Bitcoin Hasn’t Hit the Bottom Yet, Says Standard Chartered
Other prominent digital assets that saw large liquidations include ETH rival Solana (SOL) at $17.01 million and two popular meme assets Dogecoin (DOGE) at $13.56 million and Pepe (PEPE) at $6.61 million.
The largest single liquidation order happened on OKX in the ETH/USDT pair for a value $6.07 million, according to Coinglass.
Bitcoin plummeted from a high of $61,335 to a low of $56,757 in the past 24 hours. Bitcoin has slightly recovered at time of writing and is trading for $57,429, down more than 6% in the last 24 hours.
Solana is trading for $136 at time of writing, down nearly 5% in the last 24 hours.
Meanwhile, DOGE is trading for $0.1331 at time of writing, down nearly 9% in the last 24 hours. PEPE is trading for $0.0000077 at time of writing, down 8.6% in the last 24 hours.
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