Over $376M in long positions were wiped out, with Binance, Hyperliquid, and Bybit accounting for the majority of the 24-hour liquidation volume.
Crypto markets experienced one of the largest leverage resets in weeks, with more than $514 million in positions liquidated within 24 hours. Data from CoinGlass shows $376 million of the liquidations were longs, suggesting traders were heavily positioned for further market gains. Over 155,000 traders were affected, including a $23.18 million Bitcoin position on Hyperliquid. Binance, Hyperliquid, and Bybit bore the brunt of the impact, collectively accounting for 72% of all forced unwinds. Analysts view large long-side liquidations as a potential stabilizing event if key technical levels hold. XRP fell 4.3% from $2.09 to $2.00 despite ETF inflows, struggling against the $2.09–$2.10 resistance level. GoPlus reported $4.7M in 2025 revenue, with $GPS token volumes exceeding $15B combined in spot and derivatives trading since launch.