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The daily liquidation volume in the cryptocurrency market has exceeded $500 million
In the context of the rising cryptocurrency market, the daily liquidation volume has reached $510.9 million.
The largest single liquidation amounts to nearly $75 million.
Bitcoin has taken the lead among assets, setting a new all-time high, while Dogecoin follows in second place.
According to CoinGlass, the liquidation volume for futures contracts in the crypto asset market has reached $510.99 million in the last 24 hours and continues to increase. This uptick is attributed to Bitcoin's surge and the subsequent positive trend across the market as a whole.
This is reflected in the liquidation structure, where a significant portion of losses is concentrated in short positions. Bitcoin maintains a strong lead among assets, followed by Dogecoin.
In the last day's chart, Dogecoin has seen a gain of 23.2%. More details on the situation with Dogecoin can be found in a separate article.
The volume of liquidations for futures contracts in the crypto asset market. Source: CoinGlass.
The largest single liquidation occurred on the Binance exchange in the BTC/USDT pair, totaling $74.98 million. This platform also leads in terms of total loss volume, accounting for over 39%.
For more information on what liquidation is and how to prevent it:
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