According to the analysis company CoinGlass, 83,912 operations were settled in the last 24 hours, with a total settlement of US$190 million. The largest liquidation order occurred on OKX, with an ETH/USDT exchange value of US$5 million.
When a trader fails to meet margin requirements or runs out of money to hold the position open, an exchange will liquidate a leveraged position, resulting in partial or complete loss of the trader's initial margin.