Crypto liquidations rally 78% with ETH leading the charts

Cryptocurrency liquidations have seen a sudden increase over the past day. Ethereum (ETH) is still leading the charts.

According to data provided by Coinglass, the total crypto liquidations surged by 78.8% in the past 24 hours, surpassing the $75 million mark. The increase in liquidations came while the total cryptocurrency open interest recorded a 0.35% decline in the same timeframe — currently hovering at $66 million.

Crypto liquidations map – June 17 | Source: Coinglass

Per a crypto.news report on Jun. 16, the number of crypto liquidations plunged by 80% — dropping to $42.4 million — in just one day as the broader market was consolidating with a total market capitalization of $2.54 trillion.

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Here’s the data from Coinglass:

• $43.9 million worth of long positions have been liquidated.
• $31.6 million worth of short positions were liquidated.
• Ethereum dominates the list with over $19 million in liquidations — $5.6 million longs and $13.5 million shorts.
• Bitcoin (BTC) liquidations reach $8.2 million — $4.15 million longs and $4.09 million in shorts.
• Binance is dominating the scene with $38.7 million in liquidations with longs accounting for 57.6% of this tally.
• OKX saw $23 million in liquidations, having a 30% share of the market.

According to data provided by CoinGecko, the increased liquidations come as the global crypto market capitalization records a 0.4% decline in the past 24 hours — falling from $2.549 trillion to $2.536 trillion.

Bitcoin has been consolidating around the $66,000 mark over the past three days, while Ethereum hovers around the $3,550 mark in the same timeframe.

Read more: VC roundup: blockchain startups secure $109.3m in major funding rounds

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