$3 Billion Crypto Liquidation: 8th Largest in History, Shorts Outpace Longs 11-to-1

Citing CoinGlass data, Lookonchain reported that 174,350 traders were liquidated for a total of $2.98 billion in the last 24 hours, marking the 8th largest crypto liquidation event in history.

The mandatory closing of positions due to insufficient collateral in leveraged trades was particularly concentrated on the short side over the past 24 hours. Short liquidations reached $2.74 billion, while liquidations in long positions remained at $240.01 million. Thus, short liquidations were approximately 11 times the volume of long liquidations.

The total liquidation amount rose by approximately $1.06 billion over the previous 24-hour figure reported at $1.92 billion on the same day. By asset, the largest liquidation volumes were seen in Bitcoin and Ethereum. $1.42 billion worth of positions were liquidated in Bitcoin, while $1.11 billion in positions were liquidated in Ethereum.

Short positions clearly dominated the liquidations

The $2.98 billion total secured the 8th spot on the list of all-time largest crypto liquidation events. This result highlighted the movement not only for its intraday scale but also for its position in historical rankings.

According to the data shared in the Lookonchain post, the largest single liquidation was a $48.80 million BTC-USD trade on the Hyperliquid platform. The total figure revealed that a vast number of traders lost their positions within the same time interval.