The volume of liquidations on the crypto market exceeded $322 million amid the fall of Bitcoin to $58,000
On the night of August 28, 2024, the Bitcoin rate fell to $58,000. In one day, the price of the asset fell by more than 6%. Against this background, the volume of liquidations on futures on the cryptocurrency market amounted to more than $322 million in 24 hours.
Over the past 24 hours, the positions of 87,157 traders were liquidated. About $287 million in losses were on long positions, more than $35 million on short positions. Bitcoin and Ethereum predominate in terms of assets - in pairs with these cryptocurrencies, positions worth about $96 million and $104 million, respectively, were liquidated.
The largest amounts of liquidations were traditionally on the Binance and OKX cryptocurrency exchanges - $137.12 million and $109.12 million, respectively. The largest liquidation of $12.67 million was recorded on the Binance exchange in the ETH/BTC trading pair.
