The volume of liquidations on the crypto market exceeded $1 billion per day
On the night of August 5, 2024, the price of Bitcoin sharply fell below the $50,000 mark. Over the course of a day, the price of the asset fell by more than 19%. Against this background, the volume of liquidations on futures on the cryptocurrency market amounted to more than $1 billion in 24 hours.
Over the past 24 hours, positions of 268,285 traders were liquidated. Approximately $888 million in losses came from long positions, and more than $129 million from short positions. In terms of assets, Ethereum and Bitcoin predominate - in pairs with these cryptocurrencies, positions worth about $337 million and $340 million were liquidated, respectively.
