Crypto traders endured $1.36 billion worth of liquidations in the past day ascrossed the $23,000 mark (and retraced at points), as per data on analytics site Bybt. 80% of these trades belonged to short sellers
Overall, over 97,539 traders were liquidated in the past 24 hours from Wednesday morning, with the single largest liquidation recorded on crypto exchange Bitmex—a $10 million bet on Bitcoin.
The pioneer asset also accounted for the most liquidations, with traders losing $1.16 billion (51,120 Bitcoin) to exchanges in such trades alone. Ethereum traders were far below the pecking order in that regard, with a relatively lesser $75 million (113,000 ETH) lost to liquidations.
Of the top nine cryptocurrencies, Chainlink traders saw the least amount of liquidations—with only $2.46 million (174,000 LINK). Borrowers of Tether, a US dollar-pegged stablecoin, interestingly saw bigger liquidations—a total value of $3.15 million.
In terms of exchanges, traders on Binance saw the most liquidations with over $541 million obliterated in the past 24 hours. Bitfinex, on the other hand, saw a relatively meager $3.55 million worth of liquidations—the lowest among all popular crypto exchanges.
Meanwhile, short-sellers are continuing to bet against Bitcoin—and are losing. $6.4 million worth of such bets were liquidated in the past hour alone.