More than 125,000 crypto traders liquidated, here’s how much they lost

More than 125,000 crypto traders liquidated, here’s how much they lost

In the last 24 hours, thousands of crypto traders have lost their positions in the market. Liquidations intensified, especially after the price of Bitcoin fell above $19,000. This caused one of the biggest liquidations of 2022, with traders losing hundreds of millions of dollars in the span of a single day.

More than 125,000 Trader Rekt

In the 24 hours after bitcoin fell to $18,000 territory, more than 125,000 had liquidated positions. That was more than $410 million lost in the past day. Not surprisingly, the vast majority were long-term traders who bet on the market and saw another rally. Instead, the drop caused a ripple effect throughout the market.

According to data from Coinglass, a total of 126,632 traders lost their positions during this time. The largest single liquidation was recorded on the Bitmex exchange, where one trade worth $10 million was liquidated on the XBTUSD pair.

Of the $417 million in liquidations, 87.85% went long, leaving $52.38 million in shorts during that time. In the last 12 hours, the liquidations have started to subside, but they are still significant enough to cause panic in the market.

Ethereum runs crypto liquidations

While bitcoin has fallen below $19,000, sparking massive liquidations across digital assets, it is still short compared to Ethereum. ETH fell to the $1,200 level at one point, and long traders were hit after hit in the market.

Where Bitcoin liquidations reached around $121 million in the last 24 hours, Ethereum’s numbers were almost 40% higher, with traders losing $161 million. This meant that trades lost more than 122,000 ETH in just 24 hours.

Ethereum Classic, which tends to lag behind Ethereum the most, was also not spared in the liquidation trends. ETC saw the liquidation of more than 482,000 coins, resulting in a loss of $13.91 million during that time. It was slightly ahead of XRP, which had liquidations of $10.5 million.

All other cryptocurrencies had far fewer liquidations with less than $5 million lost. EOS, ETHW, SOL, and CHZ saw liquidations of $4.92 million, $4.65 million, $4.29 million, and $4.27 million, respectively. LTC also made the top 10 list with $3.6 million in liquidations.

Featured image from CoinShark, chart from TradingView.com

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