The Amount of Forced Liquidation in the Last 24 Hours of Cryptocurrency Perpetual Futures

IconCryptoNewsTerminal Staff29 May, 2024

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The Amount of Forced Liquidation in the Last 24 Hours of Cryptocurrency Perpetual Futures

The cryptocurrency market has been experiencing a period of high volatility in recent weeks, and this has led to a significant increase in the amount of forced liquidation in perpetual futures contracts. In the last 24 hours, the total amount of forced liquidation in cryptocurrency perpetual futures was $66.39 million. This includes $29.29 million in BTC, $34.06 million in ETH, and $7.04 million in NOT. The liquidation rate for BTC was 61.63% for long positions and 38.37% for short positions, indicating that a majority of the liquidations were on long positions. The liquidation rate for ETH was 77.86% for long positions and 22.14% for short positions, also indicating that a majority of the liquidations were on long positions. The liquidation rate for NOT was 42.9% for long positions and 57.1% for short positions, indicating that a majority of the liquidations were on short positions. The recent increase in forced liquidation is likely due to a combination of factors, including the high volatility in the cryptocurrency market, the recent decline in the price of BTC, and the upcoming expiration of quarterly futures contracts. ```

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