The entire network liquidated $425.21M in the past 24 hours, with $259.7 M liquidated in short positions which amounts to 61% of the total liquidations.
According to Coinglass data, in the past 24 hours, 122,696 traders were liquidated and the total liquidations came in at $425.21 million, with the largest liquidation occurring on Binance – amounting to 159.53 Million. When it comes to crypto’s individual liquidation, $51.39M worth of Bitcoin was liquidated in long positions and $111.15M was liquidated in short positions.
The largest single liquidation order happened on Binance – BTC USD valued at $12.74M.
Advertisement
When it comes to network liquidations in 1 hour, the total sum was $8.03M, and liquidation for long positions were $7.19M, meanwhile, liquidations for short positions were $831.88K.
Note it’s almost been 12 hours since, Trump win in US Election 2024 was projected by several media firms as well as market prediction platforms like Kalshi and Polymarket. In these 12 hours, the entire network liquidated $223.74M, with long positions liquidations recorded at $48.13M. Short position liquidations amounted to 78.34% stood at $175.61M. In 12 hours, Binance had the largest liquidation amounting to $88.97M, followed by OKX and Bybit.
The surge in liquidations could be somewhat attributed to the popularity of blockchain based prediction platforms – Polymarket and Kalshi and market sentiments around these platforms. But majorly, the high liquidations are a reflection of FOMO in the crypto space, sudden shifts in market sentiment fueled by overall crypto prices surge and the US Election results, which saw pro-crypto Republican Donald Trump take over the US Presidency Office.
Advertisement
Also Read: Crypto-Related Stocks, Dollar Deliver Stellar Performance Post US Elections
