In the last 24 hours, the volume of liquidations on centralized crypto exchanges reached $659 million, and affected 200.72 thousand traders. The leader in terms of the amount of closed positions was Binance with $265 million (40.21% of the total volume), which once again emphasizes the dominant influence of this platform on the #cryptocurrencymarket . OKX and Bybit also performed strongly with $178 million (27.01%) and $132 million (20.03%) respectively.
Liquidations on HTX totaled $66.7 million, giving the exchange 10.12% of the total. CoinEx and Bitfinex recorded much smaller amounts - $12.9 million and $3.2 million, taking up 1.96% and 0.49% of the share, respectively. The main liquidated assets were Bitcoin ($166 million), Ethereum ($96.9 million), Dogecoin ($69.8 million) and Solana ($29.3 million).
Analysts point out that such a large volume of liquidations is due to the current market uncertainty and sharp price movements. Bitcoin, for example, continues to be in the spotlight, with its liquidations dominating the overall pattern. Ethereum and Dogecoin also account for a significant share, indicating traders' preference to use them in risky, highly leveraged strategies.
Many experts warn that such a strategy becomes extremely dangerous against the background of market volatility and growth of $BTC
quotes. Risk management and careful analysis of market movements are becoming essential tools for traders. Such spikes in liquidations have happened before and serve as a reminder that the market can move unpredictably.
Liquidations are mostly related to long positions and not only cause financial losses to traders, but also create cascading effects in the market, amplifying price fluctuations. Thus, momentum remains an important indicator to track the state of the cryptocurrency market and potential changes in the near future.