Crypto Liquidations Reach $604.4 Million in 24 Hours, With Longs at 92%

Crypto markets saw $604.4 million in leveraged positions forcibly closed during the 24 hours ending at 7:01 p.m. ET Nov. 8, with long positions accounting for 92% of losses.

The total covered 78,909 orders across Binance, Bybit and OKX. Long liquidations totaled $558.2 million, compared with $46.2 million in short liquidations.

Ether (ETH) led assets with $258 million liquidated, including $241.1 million in longs and $16.8 million in shorts. Bitcoin (BTC) followed with $159.2 million, split between $147.9 million in long liquidations and $11.4 million in short liquidations.

Solana (SOL) recorded $29.6 million in liquidations, including $28.9 million in longs and $710,411 in shorts. XRP had $25.8 million, with $25.4 million in longs and $373,559 in shorts. Zcash (ZEC) saw $10.8 million, divided between $8.9 million in longs and $1.9 million in shorts.

Janction (JCT) was the only listed asset with more short than long liquidations: $6.8 million versus $3.3 million. Long liquidations exceeded shorts for each of the other listed assets.

Binance had $430.1 million in liquidations, followed by Bybit with $123.3 million and OKX with $51 million. The largest single liquidation was a $48.2 million Ether long position on Binance at 4:55 p.m. ET Nov. 8.

A liquidation is the forced closure of a leveraged position when its margin can no longer support the trade. An earlier 24-hour liquidation tally reached $582 million.