Approximately $ 1.5 billion in both long and short positions was liquidated in the last 24 hours. The largest single-order liquidation was worth $ 20.2 million. Almost $ 1.5 billion has been seen in positions that have been liquidated in the past 24 hours.

 

$ 1.5 billion was liquidated

Cryptocurrency trading has a certain appeal. All in all, we’ve seen the price of Bitcoin jump from $ 40,000 to $ 36,000 in the last 24 hours and again above $ 41,000. The same is true for many other cryptocurrencies.

This widespread volatility creates opportunities for serious gains in a short time. However, what many people do not realize is that this is much more dangerous.

As the latest data highlighted, about $ 1.5 billion of positions were liquidated. So trade did not go their own way and they lost their margins. As of the time of this writing, most come from long positions, which are a direct result of Bitcoin’s volatility and its collapse during last night’s trading session.

The total amount of long products liquidated is $ 953 million, while the liquidated short positions currently stand at $ 516 million.

As can be seen in the chart above, the majority of liquidations came from Binance. Binance is the largest exchange by volume.

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20 million dollar single liquidation order

We saw approximately $ 60 million in liquidation in the past hour. The interesting thing about this is that most of it comes from a single command.

A trader lost $ 20.2 million on BitMEX. This included the largest single liquidation order and ETH trading. This is enough to highlight the dangers of leveraged trading.

It’s important to remember that this is a zero-sum game. Put simply, this game means that for some to win, others have to lose.

However, the situation remains particularly exciting. The total transaction volume in the last 24 hours is approximately 200 billion dollars. Bitcoin’s dominance has exceeded 70%.

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