Cryptocurrency Market Sees $483.30M in Liquidations Over 24-Hour Period

The cryptocurrency market has witnessed a substantial wave of liquidations over the past 24 hours, resulting in significant losses for traders and exchanges alike. According to data from Phoenix Group, the total crypto liquidations have reached $483.30M, with 147,001 traders affected.

The largest exchanges have been particularly hard hit, with ByBit experiencing a loss of $104.88M (87.24% long positions and 12.76% short positions), followed closely by Binance's losses of $100.55M (72.02% longs and 27.98% shorts). Other notable exchanges include Hyperliquid ($75.54M) and Bitget ($63.11M).

In terms of individual assets, Bitcoin has seen the largest liquidations, with over $183M in losses, followed by Ethereum's $137.21M and Solana's $27.87M. Other notable assets include Ripple ($XRP), Dogecoin ($DOGE), and the Aster platform's $11.17M in liquidations on the BTC/USD pair.