The total volume of crypto money markets, which started the day with sharp decreases, is at the level of 1.042 trillion dollars. While Bitcoin (BTC) is moving in the $22,000 band, other cryptocurrencies following it are falling.
Although many investors expected an upward movement with the volatility of Ethereum (ETH) Merge on the agenda, the liquidations increased with the decline.
$552M Liquidated After Bitcoin (BTC) Drop
While 522 million dollars were liquidated in the last 24 hours, 347 million dollars of these liquidations were realized within 4 hours at the time of writing.
Altcoins also suffered losses by more significant percentages, mostly in double digits. Cardano, Solana, Dogecoin, Polkadot, Shiba Inu, Avalanche and Polygon lost as much as 15 percent of their value within hours.
The most liquidations took place on the Okex exchange. With $244 million in transactions on Okex, Binance was the second most liquidated exchange with $135 million. The third exchange, FTX, was liquidated for $57 million.
While 88.96 percent of the liquidations were in long positions, the long transaction amount approached 490 million dollars. Long transactions took a 96.11 percent share in Okex with $235 million. It accounted for 92.05 percent of transactions with $124 million on Binance and 63.61 percent with $57 million on FTX.
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