Cryptocurrency Liquidation: $77M in Forced Liquidations in the Last 24 Hours
CryptoNewsTerminal Staff20 Aug, 2024
Cryptocurrency Liquidation: $77M in Forced Liquidations in the Last 24 Hours
Liquidation in cryptocurrency perpetual futures occurs when a trader's position is closed forcibly due to insufficient margin. In the last 24 hours, there has been a significant amount of forced liquidation in the cryptocurrency market. BTC Liquidation Liquidation amount: $35.23 million Long liquidation: $22.67 million (64.35%) Short liquidation: $12.56 million ETH Liquidation Liquidation amount: $36.25 million Long liquidation: $32.01 million (88.32%) Short liquidation: $4.23 million TRX Liquidation Liquidation amount: $6.15 million Long liquidation: $0.44 million * Short liquidation: $5.71 million (92.87%) These figures indicate that a large number of traders have been liquidated from their positions, with the majority of liquidations occurring on long positions. This suggests that many traders were overleveraged and were caught off guard by the recent market volatility. It is important to note that forced liquidation can have a significant impact on the market, as it can lead to increased volatility and price swings. Traders should be aware of the risks involved in leveraged trading and should always use stop-loss orders to protect their capital.
