The cryptocurrency market experienced a sharp downturn today, with over $359 million in liquidations across major digital assets. Data from Phoenix Group reveals that 136,335 traders were impacted in the past 24 hours, reflecting widespread panic in the market.
Bitcoin and Ethereum Face Major Liquidations
Bitcoin suffered the most significant losses, with liquidations reaching $121.83 million. Ethereum followed closely behind, recording $50.98 million in liquidations.
Other notable liquidations include:
- Solana: $21.28 million
- Dogecoin: $12.84 million
- Trump Meme Coin: $12.59 million
- XRP: $9.46 million
- ANIME Coin: $5.86 million
Additionally, assets like PEPE, RUNE, SUI, AI16z, and PNUT also faced substantial sell-offs during this period.
Exchange Liquidation Breakdown
Crypto exchanges saw massive sell-offs, with Binance leading the charge. Here’s a breakdown of the top exchanges affected:
- Binance: $123.19 million
- Shorts: $51.07 million
- Longs: $72.12 million
- OKX: $79.70 million
- Shorts: $40.72 million
- Longs: $38.38 million
- BYBIT: $68.55 million
- Shorts: $24.63 million
- Longs: $43.92 million
- Gate.io: $33.27 million
- Shorts: $15.43 million
- Longs: $17.60 million
- HTX: $25.27 million
- Shorts: $13 million
- Longs: $12.27 million
- Bitfinex: $10.36 million
- Shorts: $50,000
- Longs: $10.31 million
- BitMEX: $9.12 million
- CoinEx: $5.02 million
What This Means for the Market
The recent liquidation wave highlights the ongoing volatility in the crypto space. Market participants are closely monitoring whether this downturn will lead to a prolonged bearish trend or a quick recovery.
Investors are advised to stay cautious and consider risk management strategies to navigate the current market conditions.
