Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
As reported by crypto data aggregator Coinglass, liquidations exceeding $448,490,000 have taken place in the past 24 hours as Bitcoin (BTC) experiences a decline, with over 84% stemming from leveraged long positions.
Traders utilizing leverage are facing losses after Bitcoin (BTC) unexpectedly dropped below $58,000, causing a decline in altcoins as well.
According to Coinglass, the total liquidations in the last 24 hours amount to over $448,490,000, with more than 84% attributed to leveraged longs.
The leading exchange, OKX, recorded the highest volume of liquidations at $171.28 million, followed closely by Binance, the largest exchange globally, at $170.43 million, with Huobi at $45.09 million and Bybit at $37.22 million.
Coinglass indicates that within the last day, $167.43 million worth of Bitcoin was liquidated, predominantly from long positions.
Additionally, Coinglass reports that $115.48 million worth of Ethereum (ETH), a major smart contract platform, was liquidated during the same period.
See Also: Bitcoin Hasn’t Hit the Bottom Yet, Says Standard Chartered
Related Posts
Other notable digital currencies that experienced significant liquidations include Solana (SOL) at $17.01 million, along with popular meme tokens Dogecoin (DOGE) at $13.56 million and Pepe (PEPE) at $6.61 million.
The largest individual liquidation order occurred on OKX in the ETH/USDT pair, valued at $6.07 million, according to Coinglass.
Bitcoin fell from a peak of $61,335 to a low of $56,757 within the last 24 hours. At the time of writing, Bitcoin has made a slight recovery, trading at $57,429, reflecting a decline of over 6% in the past day.
Solana is currently priced at $136, down nearly 5% over the last 24 hours.
Meanwhile, DOGE is trading at $0.1331, down almost 9% in the last 24 hours. PEPE is priced at $0.0000077, down 8.6% during the same period.
Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
#Binance #WRITE2EARN
The post Over $448,000,000 In Liquidation As Bitcoin (BTC) Crashes Below $58,000 appeared first on BitcoinWorld.
