Massive Liquidation Continues: $192.63 Million Perpetual Contracts Liquidated in the Last 24 Hours

IconCryptoNewsTerminal Staff24 Jul, 2024

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Massive Liquidation Continues: $192.63 Million Perpetual Contracts Liquidated in the Last 24 Hours

In the tumultuous crypto market, the past 24 hours have witnessed significant forced liquidation of cryptocurrency perpetual contracts, reaching a staggering $192.63 million. This widespread liquidation has impacted major cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and Solana (SOL). The liquidation scale for BTC reached $83.34 million, with long positions accounting for $71.51 million and short positions totaling $11.83 million. The liquidation ratio for long positions stood at 85.81%. ETH experienced even more extensive liquidation, with a total scale of $100 million. Long positions constituted $96.65 million, while short positions amounted to $4.19 million. The liquidation ratio for long positions was a significant 95.84%. SOL also faced substantial liquidation, with a scale of $9.29 million. Long positions accounted for $6.41 million, and short positions totaled $2.88 million. The liquidation ratio for long positions was 69.02%. The ongoing market volatility and uncertainty have contributed to the widespread liquidations. Traders are urged to approach the market with caution and carefully manage their positions amid these turbulent conditions.

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