More than $600 million was liquidated from crypto markets on Friday as Bitcoin BTC/USD, Ethereum ETH/USD and Dogecoin DOGE/USD shed over 10% of their value in a single day.
What Happened: Around 132,400 traders were liquidated in the last 24 hours as a result of the negative price action, as per data from CoinGlass.
The single largest liquidation order took place on Binance on an ETHUSDT pair worth $4.41 million.
Bitcoin BTC/USD traders were the worst off with $224 million of liquidations, followed closely by Ethereum ETH/USD traders who lost $212 million in the last day. In both cases, over 90% of liquidations took place in long positions.
Dogecoin DOGE/USD also recorded a considerable amount of liquidations on Friday. Long DOGE traders saw over $5 million worth of liquidations, while shorts only saw $1.4. million liquidated over the last 24 hours.
Friday’s liquidations were the largest seen on-chain since Bitcoin crashed from $30,000 to under $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 Action: On Saturday morning, BTC was trading at $21,255, recovering slightly, while ETH was trading at $1,628 and DOGE was trading at $0.070, as per data from Benzinga Pro.
