$178.66 Million in Crypto Positions Liquidated in 24 Hours
According to market data, long positions saw the most impact, while OKX recorded the largest single liquidation involving an ETH-USDT swap valued at over $1.1 million.
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USDT
Summary
The cryptocurrency market experienced $167 million in total liquidations over the past 24 hours, with $113 million from long positions and $53.62 million from short positions. A total of 84,230 traders were liquidated, with the largest single liquidation occurring on OKX’s ETH-USDT-SWAP at $1.135 million.
Terms & Concepts
- Liquidation: The forced closure of a leveraged position when margin falls below required levels, resulting in automatic position exit.
- Long positions: Leveraged or unleveraged positions that profit if an asset’s price rises.
- Short positions: Positions that profit when an asset’s price falls, often involving borrowing the asset to sell and later repurchase.