Cryptocurrency market, $312.99 million in leverage positions liquidated in 24 hours

Source: TokenPost Original Title: Cryptocurrency Market, $312.99 Million Liquidated in 24 Hours Original Link: Over the past 24 hours, approximately $312.99 million(about 45 billion won) worth of leverage positions have been liquidated in the cryptocurrency market.

According to current aggregated data, long positions accounted for approximately 95.01% of the liquidations, while short positions made up about 4.99%.

Liquidation Status by Exchange

Among exchanges, Hyperliquid experienced the highest liquidation with $117.84 million(37.65%) of the total, with long positions overwhelmingly representing 98.95%.

Bybit saw a total of $66.12 million(21.12%) liquidated, with long positions constituting 94.28%.

Some two-digit exchanges had about $60.07 million(19.19%) liquidated, with a long position ratio of 92.28%.

Another exchange experienced approximately $27.55 million(8.8%) in liquidations, with 89.39% of those being long positions.

Notably, on Bitfinex, about $25,618(0.08%) was liquidated, and all liquidated positions were longs.

Coin-specific Liquidation Data

In terms of coins, Bitcoin(BTC) positions were the most liquidated. Over 24 hours, about $176.77 million was liquidated from Bitcoin positions, with 4-hour data showing $138.06 million in longs and $3.12 million in shorts. The current Bitcoin price is $64,610.1.

Ethereum(ETH) saw approximately $132.11 million in positions liquidated over 24 hours.

HYPE Token experienced a large liquidation of $24.8 million in longs over 4 hours, with the current price at $22.892.

Solana(SOL) had $23.74 million in longs and $613,390 in shorts liquidated over 4 hours, with the current price at $117.39.

Dogecoin(DOGE) also saw $5.47 million in longs and $92,600 in shorts liquidated over 4 hours, with the current price at $0.12043.

Particularly noteworthy is SORA Token, which experienced a partial large liquidation of $32.39 million.

Additionally, SUI Token saw $3.56 million in longs liquidated over 4 hours, while ADA had $2.39 million in longs, and LINK had $1.49 million in longs liquidated.

ZEC(Zcash) experienced significant liquidations with $1.38 million in longs and $155,700 in shorts over 4 hours.

Meaning of Liquidation

In the cryptocurrency market, ‘liquidation’ refers to the forced closure of a trader’s position when their margin falls below the maintenance margin requirement. This large-scale liquidation indicates increased volatility in the recent crypto market.

Market Interpretation

A massive liquidation of $312.99 million occurred over 24 hours, with 95% being longs. Liquidations were concentrated on Hyperliquid, Bybit, and other two-digit exchanges, with the most occurring in BTC and ETH. Large liquidations were also observed in HYPE and SORA tokens.

Strategic Points

The overwhelming liquidation of long positions suggests short-term downward pressure may exist. Large liquidations in major coins like Bitcoin, Ethereum, and Solana highlight the need for caution when engaging in leverage trading. Special attention should be paid to the high volatility when investing in HYPE and SORA tokens.

Terminology

Liquidation(Liquidation): The forced closure of a position when a trader’s margin falls below the maintenance margin level in leverage trading.

Long Position(Long Position): A position where the trader expects the asset’s price to rise, typically by buying.

Short Position(Short Position): A position where the trader expects the price to fall, typically by selling.