Scale of Forced Liquidation of Cryptocurrency Perpetual Futures in the Last 24 Hours

IconCryptoNewsTerminal Staff23 Aug, 2024

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Scale of Forced Liquidation of Cryptocurrency Perpetual Futures in the Last 24 Hours

The scale of forced liquidation of cryptocurrency perpetual futures in the last 24 hours has been significant, with a total of $105.66 million liquidated across the three major cryptocurrencies: BTC, ETH, and SOL. BTC saw $49.45 million in liquidations, with the majority of losses ($40.42 million) occurring on short positions. The liquidation ratio for BTC was 81.73% for shorts. ETH experienced $47.85 million in liquidations, with $34.17 million in losses on short positions. The liquidation ratio for ETH was 71.4% for shorts. SOL saw $8.36 million in liquidations, with $6.82 million in losses on short positions. The liquidation ratio for SOL was 81.66% for shorts. These forced liquidations are likely due to the recent downturn in the cryptocurrency market, which has seen the prices of BTC, ETH, and SOL decline significantly in the past few weeks. As the market continues to fluctuate, it is important for traders to manage their risk carefully and be prepared for the possibility of forced liquidations.

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