Estimated liquidation volumes in major crypto perpetual futures over the past 24 hours were highest for BTC at $104.16 million, followed by ETH at $70.31 million and ZEC at $36.13 million. Long positions accounted for 74.52% of BTC liquidations, 63.62% of ETH liquidations and 94.55% of ZEC liquidations. Perpetual futures are contracts without a fixed expiry, and liquidations occur when positions no longer meet margin requirements.