More than $600 million was liquidated from crypto markets on Friday Bitcoin BTC/USD, ether ETH/USD and Dogecoins DOGE/USD lost over 10% of its value in a single day.
What happened: According to data from CoinGlass, around 132,400 traders have been liquidated over the past 24 hours due to the negative price action.
The largest single liquidation order was made on binance on a $4.41 million ETHUSDT pair.
Bitcoin BTC/USD traders were the worst off with $224 million in liquidations, closely followed by ether ETH/USD traders who lost $212 million in the last day. In both cases, over 90% of the liquidations were in long positions.
Dogecoins DOGE/USD also saw a significant number of liquidations on Friday. Long DOGE traders saw over $5 million worth of liquidations while shorts saw just $1.4. Millions have been liquidated in the last 24 hours.
Friday’s liquidations were the largest on-chain liquidations since Bitcoin plummeted from $30,000 to below $22,500 in June.
The market remembered that it’s 2022
— Shibetoshi Nakamoto (@BillyM2k) August 19, 2022
See also: IS BITCOIN A GOOD INVESTMENT?
Price promotion: As of Saturday morning, BTC was trading at $21,255, recovering slightly, while ETH was trading at $1,628 and DOGE at $0.070, according to data from Benzinga Pro.