Crypto Traders Suffer Massive Liquidation

In the last 24 hours, short traders faced losses exceeding $132 million, while long traders incurred a total loss of $150 million. CoinGlass also showed that within the last hour alone, $172 million had been liquidated from leveraged positions as BTC continued to rise above traders’ expectations.

Breaking down the losses across different blockchains, BTC traders took the highest hit, with $4 million liquidated in the network in the last 24 hours. Ethereum (ETH) protocol saw $990,000 liquidated on its platform, while Solana (SOL) traders lost approximately $559,000.

Other blockchain protocols also saw losses, with Dogecoin (DOGE) and FTM losing $158,000 and $172,000, respectively. The remaining networks collectively lost $293,000.

The liquidations also impacted centralized exchanges (CEXs), with the largest single liquidation order occurring on OKX. According to CoinGlass data, a trader on OKX lost over $4 million in a single order within the last 24 hours. This highlights the risks associated with trading cryptocurrencies, especially in volatile market conditions.