The high volatility and decline of the global cryptocurrency market in the past few days has resulted in the liquidation of 260,608 traders.

According for data Bybt Liquidations totaled $1.17 billion, with Bitcoin liquidations taking the lead.

Based on the current erratic market dynamics, liquidations intersect across traders who have opened both long and short positions.

According to bybt data, more than $739 million of long positions were liquidated against $348 million of short positions.

Which indicates an imbalance as traders expected a recovery from the current levels.

Filter by cryptocurrency and trading platforms:

The liquidation affected major cryptocurrencies, as well as major cryptocurrency exchanges.

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Bitcoin ranks as the most affected, with about 19.25 thousand Bitcoins liquidated, totaling $631.93 million in the last 24 hours.

The next coin is Ethereum, which recorded a liquidation of 103,000 ETH with a total value of $199.98 million.

Other cryptocurrencies including XRP, Dogecoin, EOS, and dot also netted $70.95 million, $67.73 million, $16.51 million, and $15.04 million, respectively.

As for the trading platforms that witnessed more liquidations, the “bybt” platform witnessed the most liquidations, as the liquidation number reached $427.22 million in the past 24 hours.

Huobi Global and Okex also ranked in the top three with total liquidations of $215.39 million and $205 million, respectively.

While the total liquidation reflects the current state of the market, the numbers are more modest when compared to the two largest liquidations since March.

On April 17, a total of $9.26 billion of long positions were liquidated against $886.65 million of short positions.

This precedes the liquidation of the $7.56 billion purchases on May 18.

These two periods correspond to the time when Bitcoin and Ethereum reached all-time highs, respectively.

From the trends shown, the greater the uncertainty in the market, the greater the level of liquidation.

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The rapid movement of bitcoin and its recovery from a decline to its lowest level in a month, as the price of bitcoin fell below $ 30 thousand, led to liquidations worth more than $ 48.12 million in the past four hours, bybt data showed.

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