Over $200M Worth of Crypto Liquidated in the Past 24 Hours

The enhanced price fluctuations in the entire crypto market resulted in over $200 million worth of liquidations in the past 24 hours, according to data from CoinGlass. OKEx once again became the largest liquidation volume provider on the market with $78 million orders wiped out. Reportedly 63% of those orders longed. Binance, meanwhile, is the second-largest liquidation volume provider with $62 million. As for liquidations by crypto assets, Bitcoin (BTC) orders remain the most widely liquidated positions on the market with $77 million being wiped out in the past 24 hours followed by Ethereum (ETH) with $55 million. While the liquidation volume remains relatively high, it’s still far behind the record-breaking liquidation last seen on Jan. 21, when the market faced almost $1 billion of long liquidation volume in 24 hours. The total market capitalization of cryptocurrencies plunged nearly 3.8% in the early Asian hours. Bitcoin (BTC) dropped nearly 5% to trade at $39,322. Ethereum, the world’s second-largest cryptocurrency, was also down 4.4% on the day and currently trading at $2,599. Liquidations in the crypto market happen when a trader has insufficient funds to fund a margin call or a call for extra collateral demanded by the exchange to keep the trading position funded. They are especially common in high-risk trading due to the high volatility of assets and occur in both margins and futures trading.The post Over $200M Worth ...