CoinGlass reports that in the last 24 hours alone, an astounding $963 million worth of cryptocurrency has been liquidated.
Since early March, the largest volume of cryptocurrency has been liquidated. Back then, a 10% decline in Bitcoin just after hitting all-time highs resulted in the liquidation of almost $1.1 billion in a single day.
Most of this large wipeout ($772 million) has been attributed to long holdings.
Growing tensions in the Middle East caused the price of Bitcoin to flash fall more than 8% on Saturday. Iran responded by firing hundreds of missiles and drones towards Israel.
On Binance, the biggest single liquidation order ever was $8.46.
In the course of one of the greatest falls the cryptocurrency market has seen in years, almost 260,000 traders have lost everything during the last 24 hours.
Notably, OKX has completed more total liquidations ($412 million compared to $365 million for Binance) than Binance. When it comes to complete liquidations, Huobi, BitMEX, CinEX, and Bitfinex are among the best cryptocurrency exchanges.
Major cryptocurrencies, such as Dogecoin (DOGE) and Shiba Inu (SHIB), had a brief relief bounce, as reported by U.Today, which led to the liquidation of some short positions. The market capitalization of all cryptocurrencies has nevertheless decreased dramatically over the previous day.
As far as complete liquidations go, of course, Bitcoin (BTC) and Ethereum (ETH) top the pack. Third and fourth place go to Solana (SOL) and DOGE, respectively.
