$804.2 Million in Crypto Liquidations Hit as Longs Take 89%

Crypto liquidations reached $804.2 million across 109,334 orders in the 24 hours ending Oct. 8 at 8:03 p.m. ET (Oct. 9, 00:03 UTC), with long positions accounting for most losses as Ether and Bitcoin led asset liquidations.

Long liquidations totaled $718.9 million, or 89% of the overall figure. Short positions accounted for $85.3 million.

Binance recorded $574.7 million in liquidations during the period. Bybit followed with $117.8 million, while OKX recorded $111.6 million.

Ether (ETH) led liquidations by asset at $221.6 million, including $182.3 million from long positions and $39.3 million from shorts. Bitcoin (BTC) followed with $215 million, comprising $199 million in long liquidations and $15.9 million in short liquidations.

Solana (SOL) liquidations totaled $55.1 million, with $51 million coming from long positions. Zcash (ZEC) recorded $34.3 million, including $30 million from longs. XRP liquidations reached $30.6 million, with long positions accounting for $29.3 million.

Dogecoin (DOGE) accounted for $17.8 million in liquidations. Long positions made up $17.3 million, while short liquidations totaled $516,094.

A liquidation occurs when an exchange forcibly closes a leveraged position after losses exhaust the trader’s available margin.

The largest single liquidation was an $11.9 million Ether short position on Binance at 4:57 p.m. ET (20:57 UTC) on Oct. 8.