Crypto Market Hit by $1 Billion in Liquidations in Last 24 Hours

The liquidations in the crypto market have spiked to a significant extent. As per the data from Phoenix Group, the total crypto liquidations have touched the staggering $1B mark over the past twenty-four hours. The crypto analytics firm shared insights into the overall crypto liquidations during the past 24 hours.

Bitcoin and Ethereum Incur $372.87M and $201.08M in 24-Hour Liquidations

Phoenix Group’s data displays a cumulative $987.80M in the total liquidations taking place in the crypto sector. Bitcoin ($BTC) , the top crypto asset went through a liquidation of up to 4.45K $BTC (equaling $372.87M) over the recent 24 hours. In addition to this, Ethereum witnessed a total 96.07K $ETH in liquidations, denoting $201.08M. Simultaneously, Solana’s 24-hour liquidations have touched 443.85K $SOL, accounting for $61.07M.

Apart from that, Ripple went through a liquidation of 23.98M $XRP (nearly $56.37M). Moreover, Cardano’s cumulative liquidations have reached 49.45M $ADA (almost $40.01M). Additionally, the top memecoin Dogecoin saw $89.11M $DOGE in liquidations, indicating a $17.20M overall. Moreover, Litecoin’s liquidations have attained the $12.37M mark, equalling 120.02K $LTC. Sui incurred up to 3.69M $SUI (approximately $9.01M) in liquidations.

BTC/USD Sees Biggest Single Crypto Liquidation of $13.40M on Bitfinex

The list of liquidations among the top crypto assets moves on to include the Trump token. It experienced up to 693.99K $TRUMP in liquidation. This figure accounts for $8.55M in value. Along with that, Kaito beheld 3.46M $KAITO tokens in liquidations, representing $5.41M. At the same time, Binance Coin and Pnut accounted for 9.38K $BNB ($5.32M) and 25.04M $PNUT ($5.06M) in liquidations. Concurrently, the biggest single liquidation over the past 24 hours was seen by the $BTC/$USD pair on Bitfinex, denotinng $13.40M. Additionally, up to 296,342 traders liquidated over the respective period.

Top Exchanges Recording Liquidations over Past 24 Hours Include Bybit, Binance, and OKX

According to Phoenix Group’s data, the prominent exchange liquidations include Bybit, Binance , OKX, Gate.io, HTX, Bitfinex, BitMEX, and Coinex. Particularly, Bybit saw $411.16M in liquidations while Binance reached $241.75M in this respect. Apart from that, OKX and Gate.io recorded $133.91M and $98.01M in liquidations respectively. HTX and Bitfinex experienced liquidations of $59.24M and $30.31M. Furthermore, BitMEX and Coinex incurred $22.40M and $11.35M in liquidations.