Defi

Solana

Bitcoin

Read

Crypto liquidations have surpassed the $1 billion mark less than 24 hours after the market took a red dive. 
According to data provided by Coinglass, the total cryptocurrency liquidations reached $1.05 billion over the past 24 hours as the global crypto market capitalization declined. Data shows that the majority of the liquidations come from long positions, defying traders’ expectations of a further bull run at this point.&nbsp; 
<figure class="wp-block-image size-full">
 <img loading="lazy" decoding="async" width="1002" height="462" src="https://crypto.news/app/uploads/2024/03/Screenshot-2024-03-06-131500.png" alt="Crypto liquidations surpass $1 billion as the market plunges - 15" class="wp-image-14255954">
 <figcaption class="wp-element-caption">
 Crypto liquidations – March 6 | Source: Coinglass
 </figcaption>
</figure> 
Moreover, $797 million in long and $257 million in short positions have been liquidated across all exchanges over the past day, according to Coinglass.&nbsp; 
 You might also like: <a href="https://crypto.news/defi-tvl-100-billion/"> Defi TVL surpasses $100b for 1st time since May 2022 </a> 
Bitcoin (<a href="https://crypto.news/price/bitcoin/">BTC</a>) alone witnessed $309 million in liquidations — $211 million in long and $98 million in short positions.&nbsp; 
Notably, the flagship digital currency <a href="https://crypto.news/bitcoin-69000-all-time-high-2024/">reached a new all-time high</a> of $69,170 on March 5. Following the rally, traders <a href="https://crypto.news/bitcoin-liquidate-69000-2024/">withdrew</a> their trading positions, worth more than $142 million, in just one hour after Bitcoin reached a new peak. 
Recently, one trader liquidated $1.04 million in BTC on Bybit as the asset’s price rebounded to $66,500, according to the data aggregator. 
Per Coinglass, Binance is leading the chart with $403 million in liquidations followed by OKX and Bybit with $366 million and $106 million in liquidations in the past 24 hours, respectively.&nbsp; 
Coinglass data shows that the total open interest declined by 0.65% as the crypto market faces correction — currently hovering around $67 billion. 
 Read more: <a href="https://crypto.news/solana-crypto-140-2024/"> Solana becomes 4th largest crypto following blitz past $140 </a>

Crypto liquidations surpass $1 billion as the market plunges

crypto.news

Other articles published on Mar 6, 2024

Cryptocurrency Open Interest Plummets After Bitcoin Hits New ATH

Crypto Exchange Bitstamp Secures Regulatory Nod from MAS

IOTA and Shimmer Governance Votes March 2024

OpenAI Introduces Dynamic Voice Feature for ChatGPT

Litecoin Surges: Breaking Through Resistance Towards $1000

MicroStrategy Moves to Acquire More Bitcoin

Join our free newsletter for daily crypto updates!