Crypto Exchanges Hit with $226.6M in Liquidations Amid Market Volatility
In the past 24 hours, centralized cryptocurrency exchanges experienced notable liquidations, totaling $226.6 million. The majority of these liquidations were long positions, amounting to $196.6 million, while short positions contributed $30 million, according to CoinGlass.
Binance Leads with $95.8M in Liquidations
The largest volume of liquidations was reported by Binance accounting to approximately $95.8m. Long positions contributed $83.5 million, while short positions contributed $12.3 million. Next was OKX, which incurred a total of $76.4 million in liquidations, where $65.8 million lot was closed out for longs, and $10.6 million for shorts.
For the total liquidations on Bybit, the long liquidations settled at $23.3 while the short liquidations amounted to $4.1 million, with the total liquidations equating to $27.4 million. HTX reported $16.2 million in liquidations, comprising $14.6 million from long positions and $1.6 million from shorts. Coinex has another relatively small $4.7 million in total liquidations, with $4.1 million in longs and $600k in shorts.
High Market Volatility Leads to Major Crypto Liquidations
Bitfinex saw $4 million in liquidations. This includes $3.3 million from long positions and $700,000 from shorts. The users of Bitmex experienced $2.1 million on liquidations, $2 million for the longs, and $100,000 for the shorts.
Lastly, it is important to note that the movements above illustrate fluctuations in the cryptocurrency market as they affect trading on multiple platforms over the past few days. This is fairly evident given the high level in liquidations that point to current market volatility and its impact on both short and long investors.
