As an experienced analyst, I’ve closely monitored the cryptocurrency market for several years now, and I’ve seen my fair share of volatility and liquidation events. Based on the data presented, it appears that we are witnessing another significant wave of crypto liquidations, with Ethereum leading the charge.
Over the past day, there has been a notable surge in cryptocurrency sell-offs. At present, Ethereum (ETH) remains at the top of the rankings.
Based on Coinglass’s figures, the amount of crypto assets being liquidated jumped by 78.8% over the last 24 hours, exceeding the $75 million threshold. This significant rise in liquidations took place despite a 0.35% decrease in total cryptocurrency open interest during the same period, which now stands at approximately $66 million.
According to a recent report by crypto.news on June 16th, I witnessed a significant decrease in crypto liquidations, which dropped by approximately 80% to reach around $42.4 million, within the span of a single day. The market was consolidating during this period with an overall capitalization value of approximately $2.54 trillion.
Here’s the data from Coinglass:
- $43.9 million worth of long positions have been liquidated.
$31.6 million worth of short positions were liquidated.
Ethereum dominates the list with over $19 million in liquidations — $5.6 million longs and $13.5 million shorts.
Bitcoin (BTC) liquidations reach $8.2 million — $4.15 million longs and $4.09 million in shorts.
Binance is dominating the scene with $38.7 million in liquidations with longs accounting for 57.6% of this tally.
OKX saw $23 million in liquidations, having a 30% share of the market.
Based on information from CoinGecko, there has been an uptick in liquidations. Simultaneously, the total value of all cryptocurrencies has decreased by 0.4% within the last 24 hours, dropping from $2.549 trillion to $2.536 trillion.
Over the last three days, I’ve observed Bitcoin maintaining a steady position near the $66,000 level. Similarly, Ethereum has been holding its ground around the $3,550 mark during this period.
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2024-06-17 11:08