Global crypto exchanges liquidate $729 mln in positions held by 116,000 traders

Résumé détaillé

Ethereum cryptocurrency accounted for the largest share of liquidations

MOSCOW, November 11. /TASS/. Global cryptocurrency exchanges liquidated positions held by more than 116,000 traders worth a total of $729 mln over the past 24 hours, according to data from Coinglass.

The platform’s data show that Ethereum (ether, ETH) accounted for the largest share of liquidations ($260.69 mln). Long positions accounted for approximately $578.71 mln in liquidations, while short positions totaled $150.54 mln. The largest liquidation order over the past 24 hours was recorded on the HTX cryptocurrency exchange in the ETH-USDT trading pair, worth $31.52 mln.

According to CoinMarketCap, the total cryptocurrency market capitalization stood at $2.45 trillion, with bitcoin accounting for $1.48 trillion (60.4%) and ether for $252.18 bln (10.3%).

Bitcoin and Ethereum, the two largest cryptocurrencies by market capitalization, were declining, according to data from Binance. As of 6:06 a.m. Moscow time, bitcoin was down 1.37% at $73,760, while Ethereum had fallen 2.76% to $2,062. By 6:36 a.m. Moscow time, bitcoin had slowed its decline to $73,785 (down 0.94%), while ether stood at $2,064 (down 2.39%).

Cryptocurrency liquidation is the forced closure of a leveraged trading position by an exchange due to insufficient funds to maintain the position. Leverage is a mechanism that allows traders to control positions using funds borrowed from an exchange or broker. Liquidation occurs when losses on an open position exceed the size of the initial trade, protecting traders from debt and exchanges from risk.

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