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In the past 24 hours , 63,012 traders were liquidated , the total liquidations comes in at $151.43 million

The largest single liquidation order happened on Binance - BTCUSDT value $4.01M

Liquidation HeatMap: In short, it predicts the price levels at which large-scale liquidation events may occur.

A liquidation event occurs when a trader's positions are closed due to price fluctuations and their margin account balance is insufficient to cover the open positions. To prevent further losses for both traders and exchanges, most exchanges offer a liquidation level, which is the price at which leveraged trades will be forcibly closed.

Traders who can estimate the liquidation levels of other traders may gain an advantage similar to understanding high liquidity in the order book. The liquidation heatmap by Coinglass attempts to predict where significant liquidations may occur to help traders find the best liquidity positions.

The liquidation heatmap calculates the liquidation levels based on market data and different leverage amounts. The calculated levels are then added to the prices on the chart.

As more estimated liquidation levels are added to a particular price, the colors on the heatmap change. The color range goes from purple to yellow, with yellow representing a high number of predicted liquidation levels, allowing traders to identify areas of high liquidity.

The liquidation heatmap predicts where liquidation levels are likely to initiate but not where they will stop. Therefore, the actual number of liquidations will be fewer. When considering the size, it must be viewed as a relative figure by comparing it with other levels. Users can filter multiple major exchanges, trading pairs, and historical liquidation data.

According to Coinglass at the time of posting, Liquidity is building up at 52, 800 - 53000 levels. #Write2Earn #TrendingTopic